HB Wealth Management LLC Reduces Stock Position in ANSYS, Inc. (NASDAQ:ANSS)

HB Wealth Management LLC lessened its stake in ANSYS, Inc. (NASDAQ:ANSS) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,758 shares of the software maker’s stock after selling 94 shares during the period. HB Wealth Management LLC’s holdings in ANSYS were worth $593,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its position in ANSYS by 7.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 28,351 shares of the software maker’s stock valued at $9,033,000 after acquiring an additional 1,914 shares during the last quarter. Caldwell Investment Management Ltd. purchased a new stake in shares of ANSYS during the 3rd quarter valued at about $1,560,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of ANSYS by 3.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,779 shares of the software maker’s stock worth $165,299,000 after purchasing an additional 16,462 shares during the period. KBC Group NV boosted its holdings in shares of ANSYS by 20.9% in the third quarter. KBC Group NV now owns 110,928 shares of the software maker’s stock worth $35,345,000 after buying an additional 19,149 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in ANSYS by 5.9% during the third quarter. CIBC Asset Management Inc now owns 27,116 shares of the software maker’s stock valued at $8,640,000 after buying an additional 1,518 shares during the period. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Glenda Dorchak sold 200 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $336.62, for a total value of $67,324.00. Following the transaction, the director now directly owns 3,430 shares of the company’s stock, valued at approximately $1,154,606.60. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by insiders.

ANSYS Stock Performance

ANSS opened at $356.63 on Thursday. The firm has a market cap of $31.19 billion, a P/E ratio of 55.04, a PEG ratio of 3.65 and a beta of 1.11. ANSYS, Inc. has a 1-year low of $289.82 and a 1-year high of $363.03. The company has a 50 day simple moving average of $342.88 and a two-hundred day simple moving average of $328.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.11 and a quick ratio of 3.11.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com lowered ANSYS from a “buy” rating to a “hold” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, ANSYS has an average rating of “Hold” and a consensus price target of $346.67.

About ANSYS

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.