ANSYS (ANSS) Shares Up 6.2% on Earnings Beat

ANSYS, Inc. (NASDAQ:ANSS) shot up 6.2% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $170.73 and last traded at $169.68. 1,321,111 shares changed hands during trading, an increase of 158% from the average session volume of 512,882 shares. The stock had previously closed at $159.80.

The software maker reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.19. ANSYS had a return on equity of 14.95% and a net margin of 25.98%. The business had revenue of $293.00 million for the quarter, compared to the consensus estimate of $286.57 million. During the same period last year, the business earned $1.05 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year.

Several research analysts have commented on ANSS shares. BidaskClub downgraded ANSYS from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Berenberg Bank lifted their price target on ANSYS from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Guggenheim started coverage on ANSYS in a research report on Tuesday, August 7th. They issued a “buy” rating and a $210.00 price target on the stock. Needham & Company LLC raised ANSYS from a “hold” rating to a “buy” rating and set a $172.00 price target on the stock in a research report on Monday, October 29th. Finally, ValuEngine raised ANSYS from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $176.09.

In other news, Director James E. Cashman III sold 30,000 shares of ANSYS stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $171.39, for a total transaction of $5,141,700.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Thurk sold 3,500 shares of ANSYS stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $152.26, for a total value of $532,910.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,350 shares of company stock worth $8,631,756. Company insiders own 1.10% of the company’s stock.

Several large investors have recently made changes to their positions in ANSS. Bartlett & Co. LLC acquired a new stake in shares of ANSYS during the 3rd quarter worth approximately $114,000. Fort L.P. acquired a new stake in shares of ANSYS during the 2nd quarter worth approximately $121,000. Piedmont Investment Advisors LLC acquired a new stake in shares of ANSYS during the 2nd quarter worth approximately $166,000. Steward Partners Investment Advisory LLC grew its holdings in shares of ANSYS by 338.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,040 shares of the software maker’s stock worth $181,000 after purchasing an additional 803 shares in the last quarter. Finally, Emerald Advisers Inc. PA acquired a new stake in shares of ANSYS during the 3rd quarter worth approximately $201,000. 94.35% of the stock is currently owned by institutional investors.

The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 45.94 and a beta of 1.29.

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About ANSYS (NASDAQ:ANSS)

ANSYS, Inc develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which the company's engineering simulation technologies are built; ANSYS multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; and structural analysis product suite that provides simulation tools for product design and optimization.

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