ANSYS (NASDAQ:ANSS) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of ANSYS (NASDAQ:ANSS) from a hold rating to a buy rating in a research report released on Thursday, BidAskClub reports.

ANSS has been the topic of several other reports. Citigroup initiated coverage on ANSYS in a research note on Monday, July 22nd. They set a buy rating and a $250.00 price target on the stock. Benchmark restated a buy rating and set a $210.00 price target (up from $203.00) on shares of ANSYS in a research note on Friday, May 3rd. Evercore ISI restated a hold rating and set a $160.00 price target on shares of ANSYS in a research note on Tuesday, August 6th. Wedbush boosted their price target on ANSYS from $221.00 to $228.00 and gave the company an outperform rating in a research note on Thursday, July 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered ANSYS from a strong-buy rating to a hold rating and set a $240.00 price target on the stock. in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and an average price target of $204.22.

ANSYS stock opened at $209.57 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.24 and a current ratio of 2.24. The business’s 50-day simple moving average is $207.62 and its 200-day simple moving average is $190.41. The firm has a market capitalization of $17.17 billion, a PE ratio of 40.22 and a beta of 1.42. ANSYS has a 52 week low of $136.80 and a 52 week high of $215.39.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings data on Monday, August 5th. The software maker reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. The business had revenue of $370.51 million for the quarter, compared to analyst estimates of $338.31 million. ANSYS had a return on equity of 17.17% and a net margin of 31.53%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 earnings per share. Research analysts forecast that ANSYS will post 5.2 earnings per share for the current year.

In other ANSYS news, Director William R. Mcdermott sold 1,765 shares of ANSYS stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $181.53, for a total transaction of $320,400.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alec D. Gallimore sold 638 shares of ANSYS stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $185.78, for a total value of $118,527.64. The disclosure for this sale can be found here. Insiders have sold 2,500 shares of company stock worth $459,344 over the last ninety days. Company insiders own 1.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH boosted its holdings in ANSYS by 0.5% during the second quarter. Allianz Asset Management GmbH now owns 9,435 shares of the software maker’s stock valued at $1,932,000 after purchasing an additional 49 shares in the last quarter. Hall Laurie J Trustee boosted its holdings in ANSYS by 13.7% during the second quarter. Hall Laurie J Trustee now owns 415 shares of the software maker’s stock valued at $85,000 after purchasing an additional 50 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in ANSYS by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 8,802 shares of the software maker’s stock valued at $1,803,000 after purchasing an additional 52 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in ANSYS by 0.3% during the second quarter. Victory Capital Management Inc. now owns 17,433 shares of the software maker’s stock valued at $3,571,000 after purchasing an additional 52 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in ANSYS by 0.4% during the second quarter. M&T Bank Corp now owns 13,599 shares of the software maker’s stock valued at $2,786,000 after purchasing an additional 56 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

About ANSYS

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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Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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