BidaskClub Lowers ANSYS (NASDAQ:ANSS) to Hold

BidaskClub cut shares of ANSYS (NASDAQ:ANSS) from a buy rating to a hold rating in a research report released on Tuesday morning, BidAskClub reports.

Several other analysts have also recently weighed in on ANSS. Zacks Investment Research raised ANSYS from a hold rating to a buy rating and set a $215.00 price objective for the company in a report on Monday, May 13th. Benchmark reissued a buy rating and set a $210.00 price objective (up from $203.00) on shares of ANSYS in a report on Friday, May 3rd. KeyCorp began coverage on ANSYS in a report on Wednesday, April 10th. They set a sector weight rating for the company. Wedbush boosted their price objective on ANSYS from $221.00 to $228.00 and gave the stock an outperform rating in a report on Thursday, July 11th. They noted that the move was a valuation call. Finally, Evercore ISI reissued a hold rating and set a $155.00 price objective on shares of ANSYS in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $197.50.

NASDAQ:ANSS traded down $5.47 on Tuesday, hitting $195.74. 7,800 shares of the stock were exchanged, compared to its average volume of 332,044. The firm has a market capitalization of $17.44 billion, a PE ratio of 37.54 and a beta of 1.41. ANSYS has a 52 week low of $136.80 and a 52 week high of $215.39. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $206.68.

ANSYS (NASDAQ:ANSS) last announced its quarterly earnings data on Wednesday, May 1st. The software maker reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.11. The firm had revenue of $319.91 million during the quarter, compared to analysts’ expectations of $306.17 million. ANSYS had a return on equity of 17.08% and a net margin of 31.73%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. Sell-side analysts predict that ANSYS will post 5.07 EPS for the current year.

In other news, Director William R. Mcdermott sold 1,765 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $181.53, for a total transaction of $320,400.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alec D. Gallimore sold 638 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $185.78, for a total value of $118,527.64. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Comerica Bank grew its position in shares of ANSYS by 3.0% in the 2nd quarter. Comerica Bank now owns 22,666 shares of the software maker’s stock valued at $4,752,000 after purchasing an additional 653 shares during the period. Envestnet Asset Management Inc. grew its position in shares of ANSYS by 8.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 118,525 shares of the software maker’s stock valued at $24,276,000 after purchasing an additional 8,834 shares during the period. Ownership Capital B.V. grew its position in shares of ANSYS by 1.9% in the 2nd quarter. Ownership Capital B.V. now owns 696,504 shares of the software maker’s stock valued at $142,658,000 after purchasing an additional 12,844 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of ANSYS by 150.0% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 65,656 shares of the software maker’s stock valued at $13,389,000 after purchasing an additional 39,391 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in shares of ANSYS by 286.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 591 shares of the software maker’s stock valued at $121,000 after purchasing an additional 438 shares during the period. Institutional investors own 93.59% of the company’s stock.

About ANSYS

ANSYS, Inc develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which the company's engineering simulation technologies are built; ANSYS multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; and structural analysis product suite that provides simulation tools for product design and optimization.

Further Reading: Cost of Goods Sold (COGS)

Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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