Shares of Ansys Inc. (NASDAQ:ANSS) gapped up before the market opened on Thursday . The stock had previously closed at $95.88, but opened at $95.93. Ansys shares last traded at $96.32, with a volume of 177,374 shares traded.

ANSS has been the subject of several recent research reports. Robert W. Baird reissued a “buy” rating on shares of Ansys in a report on Sunday, May 8th. Barclays PLC boosted their price objective on Ansys from $86.00 to $94.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. KeyCorp reissued a “hold” rating on shares of Ansys in a report on Saturday, June 4th. Zacks Investment Research raised Ansys from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wedbush reissued a “neutral” rating and set a $86.00 price objective on shares of Ansys in a report on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $90.50.

The stock has a 50-day moving average of $90.92 and a 200-day moving average of $88.36. The company has a market capitalization of $8.43 billion and a P/E ratio of 33.56.

Ansys (NASDAQ:ANSS) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.05. The business earned $246.10 million during the quarter, compared to analyst estimates of $244.84 million. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. Equities research analysts predict that Ansys Inc. will post $3.63 earnings per share for the current fiscal year.

In related news, CFO Maria T. Shields sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $88.00, for a total value of $3,080,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

A number of hedge funds have added to or reduced their stakes in the stock. State of Tennessee Treasury Department raised its stake in Ansys by 132.2% in the fourth quarter. State of Tennessee Treasury Department now owns 52,700 shares of the company’s stock valued at $4,875,000 after buying an additional 30,000 shares during the period. US Bancorp DE raised its stake in Ansys by 5.5% in the fourth quarter. US Bancorp DE now owns 61,898 shares of the company’s stock valued at $5,726,000 after buying an additional 3,252 shares during the period. Advisors Asset Management Inc. raised its stake in Ansys by 12.4% in the fourth quarter. Advisors Asset Management Inc. now owns 38,738 shares of the company’s stock valued at $3,583,000 after buying an additional 4,269 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in Ansys by 7.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 11,264 shares of the company’s stock valued at $1,042,000 after buying an additional 821 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Ansys by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 287,155 shares of the company’s stock valued at $26,562,000 after buying an additional 8,762 shares during the period.

ANSYS, Inc develops and markets engineering simulation software and services used by engineers, designers and students across industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.

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