Hexagon Capital Partners LLC Cuts Stake in ANSYS, Inc. (NASDAQ:ANSS)

Hexagon Capital Partners LLC lowered its stake in ANSYS, Inc. (NASDAQ:ANSS) by 30.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 188 shares of the software maker’s stock after selling 82 shares during the quarter. Hexagon Capital Partners LLC’s holdings in ANSYS were worth $65,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC acquired a new position in shares of ANSYS during the fourth quarter worth $28,000. Raleigh Capital Management Inc. lifted its stake in shares of ANSYS by 135.7% in the third quarter. Raleigh Capital Management Inc. now owns 99 shares of the software maker’s stock worth $29,000 after acquiring an additional 57 shares in the last quarter. Quest Partners LLC purchased a new position in ANSYS in the fourth quarter valued at about $29,000. DSM Capital Partners LLC acquired a new stake in ANSYS during the 4th quarter valued at approximately $34,000. Finally, Core Wealth Advisors Inc. purchased a new stake in ANSYS during the 4th quarter worth approximately $40,000. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ANSYS news, Director Glenda Dorchak sold 150 shares of ANSYS stock in a transaction on Monday, April 8th. The stock was sold at an average price of $342.08, for a total transaction of $51,312.00. Following the sale, the director now owns 3,049 shares of the company’s stock, valued at approximately $1,043,001.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

ANSYS Price Performance

Shares of NASDAQ:ANSS opened at $321.16 on Tuesday. The company has a market cap of $28.04 billion, a PE ratio of 64.49, a P/E/G ratio of 7.16 and a beta of 1.11. The firm has a 50-day simple moving average of $324.93 and a 200 day simple moving average of $332.96. ANSYS, Inc. has a fifty-two week low of $258.01 and a fifty-two week high of $364.31. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.14.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.39 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.54). ANSYS had a return on equity of 10.45% and a net margin of 19.51%. The firm had revenue of $466.60 million for the quarter, compared to the consensus estimate of $549.85 million. During the same quarter in the prior year, the company posted $1.45 EPS. The firm’s revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that ANSYS, Inc. will post 7.05 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ANSS shares. Rosenblatt Securities reissued a “neutral” rating and set a $345.00 price target on shares of ANSYS in a research report on Friday, May 3rd. StockNews.com started coverage on shares of ANSYS in a research report on Wednesday, June 26th. They issued a “hold” rating for the company. Finally, KeyCorp started coverage on shares of ANSYS in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $320.00.

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.