WASHINGTON TRUST Co Cuts Stake in ANSYS, Inc. (ANSS)
WASHINGTON TRUST Co cut its position in ANSYS, Inc. (NASDAQ:ANSS) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 2,475 shares of the software maker’s stock after selling 40 shares during the period. WASHINGTON TRUST Co’s holdings in ANSYS were worth $301,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in ANSS. State of Alaska Department of Revenue acquired a new stake in ANSYS during the first quarter worth $294,000. Huntington National Bank raised its stake in ANSYS by 0.6% in the first quarter. Huntington National Bank now owns 1,549 shares of the software maker’s stock worth $166,000 after buying an additional 9 shares during the period. Quantitative Systematic Strategies LLC raised its stake in ANSYS by 41.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 3,889 shares of the software maker’s stock worth $416,000 after buying an additional 1,144 shares during the period. Conestoga Capital Advisors LLC raised its stake in ANSYS by 96.1% in the first quarter. Conestoga Capital Advisors LLC now owns 25,709 shares of the software maker’s stock worth $2,748,000 after buying an additional 12,600 shares during the period. Finally, Gateway Investment Advisers LLC raised its stake in ANSYS by 22.1% in the first quarter. Gateway Investment Advisers LLC now owns 125,795 shares of the software maker’s stock worth $13,444,000 after buying an additional 22,770 shares during the period. 98.32% of the stock is owned by institutional investors.
ANSYS, Inc. (NASDAQ ANSS) opened at 125.24 on Tuesday. The stock’s 50 day moving average is $124.56 and its 200 day moving average is $114.39. The firm has a market cap of $10.62 billion, a P/E ratio of 40.24 and a beta of 1.10. ANSYS, Inc. has a 12-month low of $82.28 and a 12-month high of $131.63.
ANSYS (NASDAQ:ANSS) last posted its earnings results on Wednesday, August 2nd. The software maker reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.07. The firm had revenue of $264.30 million during the quarter, compared to analysts’ expectations of $259.75 million. ANSYS had a return on equity of 13.87% and a net margin of 26.37%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, equities research analysts expect that ANSYS, Inc. will post $3.86 EPS for the current year.
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A number of research firms recently weighed in on ANSS. BidaskClub raised shares of ANSYS from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Goldman Sachs Group, Inc. (The) began coverage on shares of ANSYS in a report on Monday, July 17th. They issued a “neutral” rating and a $112.00 target price for the company. Evercore ISI set a $113.00 target price on shares of ANSYS and gave the stock a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research upgraded shares of ANSYS from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Finally, Mitsubishi UFJ Financial Group downgraded shares of ANSYS from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $112.00 to $114.00 in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. ANSYS presently has an average rating of “Hold” and an average price target of $105.75.
In related news, Director Patrick J. Zilvitis sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $124.00, for a total transaction of $248,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Thurk sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $123.95, for a total value of $594,960.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
ANSYS Company Profile
ANSYS, Inc (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.
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