Brokerages Set ANSYS, Inc. (NASDAQ:ANSS) Price Target at $318.33

ANSYS, Inc. (NASDAQ:ANSS) has been given a consensus recommendation of “Reduce” by the nine ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $318.33.

Several analysts have recently commented on the stock. KeyCorp assumed coverage on shares of ANSYS in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. Rosenblatt Securities lowered their price target on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, StockNews.com assumed coverage on shares of ANSYS in a research report on Friday. They issued a “hold” rating on the stock.

ANSYS Stock Performance

NASDAQ:ANSS opened at $305.04 on Friday. The company’s 50-day moving average is $317.94 and its two-hundred day moving average is $326.43. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.95 and a quick ratio of 2.95. ANSYS has a 1-year low of $258.01 and a 1-year high of $364.31. The firm has a market capitalization of $26.63 billion, a price-to-earnings ratio of 61.25, a PEG ratio of 6.89 and a beta of 1.12.

ANSYS (NASDAQ:ANSS) last announced its earnings results on Wednesday, July 31st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.58. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The firm had revenue of $594.14 million for the quarter, compared to the consensus estimate of $550.30 million. During the same period in the prior year, the firm earned $1.06 EPS. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. Analysts forecast that ANSYS will post 7.32 EPS for the current year.

Insider Activity

In related news, Director Glenda Dorchak sold 159 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $330.81, for a total value of $52,598.79. Following the completion of the sale, the director now owns 3,782 shares of the company’s stock, valued at $1,251,123.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On ANSYS

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in ANSYS during the 2nd quarter worth about $4,635,000. EP Wealth Advisors LLC acquired a new position in ANSYS in the second quarter worth approximately $227,000. Ecofi Investissements SA acquired a new position in ANSYS in the second quarter worth approximately $9,270,000. Regal Investment Advisors LLC boosted its position in ANSYS by 43.9% during the second quarter. Regal Investment Advisors LLC now owns 1,301 shares of the software maker’s stock worth $418,000 after purchasing an additional 397 shares during the period. Finally, Wellington Wealth Strategies LLC. bought a new stake in ANSYS during the second quarter worth approximately $238,000. 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.