Everence Capital Management Inc. Sells 1,320 Shares of ANSYS, Inc. (NASDAQ:ANSS)

Everence Capital Management Inc. lessened its holdings in ANSYS, Inc. (NASDAQ:ANSS) by 33.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,630 shares of the software maker’s stock after selling 1,320 shares during the quarter. Everence Capital Management Inc.’s holdings in ANSYS were worth $887,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Redwood Wealth Management Group LLC bought a new position in shares of ANSYS during the second quarter valued at $32,000. Bangor Savings Bank increased its holdings in ANSYS by 32.7% in the third quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock valued at $44,000 after purchasing an additional 34 shares during the period. DiNuzzo Private Wealth Inc. raised its position in ANSYS by 2,833.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock worth $56,000 after purchasing an additional 170 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in ANSYS during the 2nd quarter worth about $64,000. Finally, Intact Investment Management Inc. bought a new stake in shares of ANSYS in the 3rd quarter valued at about $70,000. 92.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird lifted their price objective on ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised shares of ANSYS from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $342.50.

Insiders Place Their Bets

In related news, Director Glenda Dorchak sold 152 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $313.61, for a total transaction of $47,668.72. Following the transaction, the director now directly owns 3,630 shares of the company’s stock, valued at approximately $1,138,404.30. This represents a 4.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

ANSYS Stock Performance

Shares of ANSS stock opened at $338.38 on Friday. The firm has a 50 day moving average of $340.44 and a 200-day moving average of $326.86. The company has a market cap of $29.59 billion, a price-to-earnings ratio of 52.22, a price-to-earnings-growth ratio of 3.89 and a beta of 1.10. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.13. ANSYS, Inc. has a 52 week low of $289.82 and a 52 week high of $363.03.

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.