Ansys Inc. (NASDAQ:ANSS) shares fell 3.6% during mid-day trading on Tuesday . The stock traded as low as $94.85 and last traded at $94.95, with a volume of 1,172,512 shares. The stock had previously closed at $98.50.

Several brokerages have recently issued reports on ANSS. Zacks Investment Research upgraded shares of Ansys from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Barclays PLC upped their price target on shares of Ansys from $86.00 to $94.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. Wedbush reiterated a “neutral” rating and set a $86.00 price target on shares of Ansys in a report on Thursday, July 28th. KeyCorp reiterated a “hold” rating on shares of Ansys in a report on Saturday, June 4th. Finally, Goldman Sachs Group Inc. began coverage on shares of Ansys in a report on Thursday, May 26th. They set a “neutral” rating and a $90.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Ansys currently has an average rating of “Hold” and a consensus target price of $90.50.

The firm’s 50 day moving average price is $93.62 and its 200-day moving average price is $89.38. The company has a market capitalization of $8.32 billion and a price-to-earnings ratio of 33.10.

Ansys (NASDAQ:ANSS) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.05. The firm earned $246.10 million during the quarter, compared to the consensus estimate of $244.84 million. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. Analysts anticipate that Ansys Inc. will post $3.63 EPS for the current fiscal year.

In other Ansys news, CFO Maria T. Shields sold 35,000 shares of the firm’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $88.00, for a total value of $3,080,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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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