ANSYS, Inc. (NASDAQ:ANSS) Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lifted its position in shares of ANSYS, Inc. (NASDAQ:ANSS) by 3.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,396 shares of the software maker’s stock after purchasing an additional 504 shares during the period. Sumitomo Life Insurance Co.’s holdings in ANSYS were worth $2,949,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in ANSYS in the 1st quarter valued at $28,000. Flagship Harbor Advisors LLC increased its holdings in ANSYS by 198.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 182 shares of the software maker’s stock valued at $33,000 after purchasing an additional 121 shares in the last quarter. Glassman Wealth Services increased its holdings in ANSYS by 128.9% in the 1st quarter. Glassman Wealth Services now owns 206 shares of the software maker’s stock valued at $38,000 after purchasing an additional 116 shares in the last quarter. Washington Trust Bank increased its holdings in ANSYS by 43.8% in the 1st quarter. Washington Trust Bank now owns 210 shares of the software maker’s stock valued at $39,000 after purchasing an additional 64 shares in the last quarter. Finally, Gemmer Asset Management LLC increased its holdings in ANSYS by 92.6% in the 1st quarter. Gemmer Asset Management LLC now owns 337 shares of the software maker’s stock valued at $62,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

NASDAQ:ANSS traded up $7.56 on Tuesday, reaching $197.71. The stock had a trading volume of 33,915 shares, compared to its average volume of 379,367. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $206.44. The company has a market cap of $16.40 billion, a PE ratio of 37.96 and a beta of 1.42. ANSYS, Inc. has a 12-month low of $136.80 and a 12-month high of $215.39.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Monday, August 5th. The software maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.09 by $0.25. ANSYS had a net margin of 31.73% and a return on equity of 17.08%. The business had revenue of $370.51 million for the quarter, compared to analysts’ expectations of $338.31 million. During the same quarter last year, the company posted $1.35 earnings per share. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts predict that ANSYS, Inc. will post 5.07 EPS for the current fiscal year.

In other news, Director Alec D. Gallimore sold 638 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $185.78, for a total transaction of $118,527.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William R. Mcdermott sold 1,765 shares of the 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 disclosure for this sale can be found here. Company insiders own 1.11% of the company’s stock.

ANSS has been the subject of a number of analyst reports. Wedbush upped their price objective on shares of ANSYS from $221.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. They noted that the move was a valuation call. Citigroup initiated coverage on shares of ANSYS in a research report on Monday, July 22nd. They issued a “buy” rating and a $250.00 price objective for the company. KeyCorp initiated coverage on shares of ANSYS in a research report on Wednesday, April 10th. They issued a “sector weight” rating for the company. Evercore ISI reissued a “hold” rating and issued a $160.00 price objective on shares of ANSYS in a research report on Tuesday. Finally, BidaskClub cut shares of ANSYS from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two equities research analysts have 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 company presently has a consensus rating of “Hold” and an average price target of $197.31.

ANSYS Company Profile

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.

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Institutional Ownership by Quarter for ANSYS (NASDAQ:ANSS)

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