ANSYS (NASDAQ:ANSS) Downgraded by StockNews.com to Hold

StockNews.com cut shares of ANSYS (NASDAQ:ANSS) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

ANSS has been the subject of a number of other reports. Rosenblatt Securities reduced their price target on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Robert W. Baird boosted their target price on ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $342.50.

ANSYS Stock Performance

Shares of ANSS stock opened at $332.38 on Thursday. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $324.95 and a 200-day simple moving average of $322.36. The company has a market cap of $29.07 billion, a price-to-earnings ratio of 51.29, a price-to-earnings-growth ratio of 3.76 and a beta of 1.11. ANSYS has a 12-month low of $275.81 and a 12-month high of $364.31.

Insider Buying and Selling

In related news, Director Glenda Dorchak sold 152 shares of ANSYS stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $313.61, for a total transaction of $47,668.72. Following the completion of the sale, the director now owns 3,630 shares in the company, valued at approximately $1,138,404.30. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On ANSYS

Hedge funds have recently modified their holdings of the company. Swedbank AB purchased a new stake in ANSYS in the 1st quarter worth approximately $128,089,000. M&G Plc acquired a new stake in ANSYS in the 1st quarter worth about $115,922,000. D1 Capital Partners L.P. purchased a new position in ANSYS during the third quarter worth approximately $73,345,000. Magnetar Financial LLC purchased a new stake in ANSYS during the first quarter valued at about $72,797,000. Finally, Matrix Capital Management Company LP acquired a new position in ANSYS during the first quarter valued at approximately $50,338,000. 92.39% of the stock is owned by institutional investors and hedge funds.

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.