ANSYS, Inc. (NASDAQ:ANSS) Upgraded at Zacks Investment Research
ANSYS, Inc. (NASDAQ:ANSS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “ANSYS reported better-than-expected second-quarter 2017 results which also marked year-over-year improvement. An upbeat 2017 outlook was also encouraging. ANSYS is a dominant player in the high-end design simulation software market. Notably, ANSYS has outperformed the industry in the last one year. We believe that robust product portfolio, expanding total addressable market (due to rising complexity in manufacturing IoT related products), improving enterprise penetration, collaborations with leading vendors and strong balance sheet will aid the stock to sustain momentum. Further, the ongoing restructuring and investments on product development along with sales execution are positives, in our view. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe and adverse foreign currency exchange rates are other major concerns.”
Other equities analysts have also recently issued reports about the company. UBS AG cut ANSYS from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 4th. Evercore ISI set a $113.00 price objective on ANSYS and gave the company a “hold” rating in a research report on Saturday, June 10th. BidaskClub cut ANSYS from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Barclays PLC reaffirmed an “underweight” rating and issued a $115.00 price objective (up from $96.00) on shares of ANSYS in a research report on Friday, May 5th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $101.00 price objective (down from $114.00) on shares of ANSYS in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. ANSYS has an average rating of “Hold” and an average price target of $105.75.
Shares of ANSYS (NASDAQ ANSS) opened at 124.43 on Monday. The stock has a market capitalization of $10.60 billion, a P/E ratio of 39.98 and a beta of 1.10. The company’s 50 day moving average price is $124.21 and its 200-day moving average price is $112.81. ANSYS has a 12 month low of $82.28 and a 12 month high of $131.63.
ANSYS (NASDAQ:ANSS) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. The business had revenue of $264.30 million for the quarter, compared to analysts’ expectations of $259.75 million. ANSYS had a return on equity of 13.87% and a net margin of 26.37%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS. Equities analysts predict that ANSYS will post $3.85 earnings per share for the current year.
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In other ANSYS news, Director Michael Thurk sold 4,800 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $123.95, for a total transaction of $594,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick J. Zilvitis sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $124.00, for a total transaction of $248,000.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Commerce Bank raised its stake in shares of ANSYS by 15.1% in the second quarter. Commerce Bank now owns 3,941 shares of the software maker’s stock worth $480,000 after buying an additional 517 shares in the last quarter. Neuberger Berman Group LLC raised its stake in ANSYS by 1.8% in the second quarter. Neuberger Berman Group LLC now owns 414,743 shares of the software maker’s stock valued at $50,466,000 after buying an additional 7,443 shares during the period. Pacer Advisors Inc. raised its stake in ANSYS by 7.5% in the second quarter. Pacer Advisors Inc. now owns 1,655 shares of the software maker’s stock valued at $201,000 after buying an additional 116 shares during the period. Airain ltd bought a new stake in ANSYS during the second quarter valued at approximately $4,165,000. Finally, Andra AP fonden raised its stake in ANSYS by 6.4% in the second quarter. Andra AP fonden now owns 112,400 shares of the software maker’s stock valued at $13,677,000 after buying an additional 6,800 shares during the period. Institutional investors and hedge funds own 98.16% of the company’s stock.
ANSYS, Inc (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.
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