ANSYS, Inc. (NASDAQ:ANSS) is Connective Capital Management LLC’s 10th Largest Position

Connective Capital Management LLC decreased its holdings in ANSYS, Inc. (NASDAQ:ANSS) by 23.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,665 shares of the software maker’s stock after selling 2,658 shares during the period. ANSYS accounts for about 5.0% of Connective Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Connective Capital Management LLC’s holdings in ANSYS were worth $2,786,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Swedbank AB bought a new position in ANSYS in the 1st quarter worth approximately $128,089,000. M&G Plc purchased a new position in shares of ANSYS in the first quarter worth $115,922,000. Point72 Asset Management L.P. boosted its position in shares of ANSYS by 210.1% during the fourth quarter. Point72 Asset Management L.P. now owns 325,000 shares of the software maker’s stock worth $117,936,000 after acquiring an additional 220,200 shares during the last quarter. Magnetar Financial LLC purchased a new position in ANSYS during the first quarter valued at $72,797,000. Finally, TOMS Capital Investment Management LP purchased a new position in ANSYS during the fourth quarter valued at $53,647,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ANSS shares. StockNews.com started coverage on shares of ANSYS in a report on Sunday, September 22nd. They set a “hold” rating for the company. KeyCorp initiated coverage on ANSYS in a report on Thursday, June 27th. They set a “sector weight” rating for the company. Finally, Rosenblatt Securities decreased their price objective on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $318.33.

Insider Buying and Selling

In other ANSYS news, Director Glenda Dorchak sold 159 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $330.81, for a total transaction of $52,598.79. Following the completion of the transaction, the director now owns 3,782 shares in the company, valued at $1,251,123.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

ANSYS Stock Performance

NASDAQ ANSS opened at $325.15 on Monday. The business’s 50 day moving average price is $315.85 and its 200-day moving average price is $324.59. ANSYS, Inc. has a fifty-two week low of $258.01 and a fifty-two week high of $364.31. The company has a market cap of $28.39 billion, a P/E ratio of 65.29, a P/E/G ratio of 6.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.95 and a current ratio of 2.95.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings data on Wednesday, July 31st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.58. The business had revenue of $594.14 million for the quarter, compared to analysts’ expectations of $550.30 million. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. Sell-side analysts predict that ANSYS, Inc. will post 7.32 earnings per share for the current year.

ANSYS Company Profile

ANSYS, Inc develops and markets engineering simulation software and services for engineers, designers, researchers, and students in the United States, Japan, Germany, China, Hong Kong, South Korea, rest of Europe, the Middle East, Africa, and internationally. It offers structural analysis product suite that provides simulation tools for product design and optimization; the Ansys Mechanical product, an element analysis software; LS-DYNA solver for multiphysics simulation; and power analysis and optimization software suite.