J P Morgan Chase & Co Increases ANSYS, Inc. (ANSS) Price Target to $98.00
ANSYS, Inc. (NASDAQ:ANSS) had its price target raised by investment analysts at J P Morgan Chase & Co to $98.00 in a research note issued to investors on Tuesday. The brokerage presently has an “underweight” rating on the software maker’s stock. J P Morgan Chase & Co’s price target would indicate a potential downside of 20.71% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reissued a “hold” rating and set a $118.00 target price on shares of ANSYS in a report on Monday, September 11th. Zacks Investment Research raised shares of ANSYS from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Evercore ISI set a $113.00 target price on shares of ANSYS and gave the stock a “hold” rating in a report on Saturday, June 10th. BidaskClub lowered shares of ANSYS from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. Finally, Robert W. Baird set a $130.00 target price on shares of ANSYS and gave the stock a “buy” rating in a report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $113.65.
ANSYS (ANSS) opened at 123.59 on Tuesday. ANSYS has a 12 month low of $82.28 and a 12 month high of $132.74. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 39.71 and a beta of 1.07. The firm has a 50-day moving average price of $126.96 and a 200-day moving average price of $119.36.
ANSYS (NASDAQ:ANSS) last posted its earnings results on Wednesday, August 2nd. The software maker reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.07. ANSYS had a net margin of 26.37% and a return on equity of 13.87%. The firm had revenue of $264.30 million for the quarter, compared to analyst estimates of $259.75 million. During the same period in the previous year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts expect that ANSYS will post $3.86 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of ANSS. Strs Ohio boosted its stake in shares of ANSYS by 2.1% in the 1st quarter. Strs Ohio now owns 6,927 shares of the software maker’s stock valued at $740,000 after purchasing an additional 141 shares during the last quarter. First Trust Advisors LP boosted its stake in ANSYS by 133.9% during the first quarter. First Trust Advisors LP now owns 62,739 shares of the software maker’s stock worth $6,705,000 after acquiring an additional 35,920 shares in the last quarter. World Asset Management Inc boosted its stake in ANSYS by 4.0% during the first quarter. World Asset Management Inc now owns 5,528 shares of the software maker’s stock worth $591,000 after acquiring an additional 214 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in ANSYS by 7.0% during the first quarter. UBS Asset Management Americas Inc. now owns 380,150 shares of the software maker’s stock worth $40,627,000 after acquiring an additional 24,987 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in ANSYS by 7.3% during the first quarter. Meadow Creek Investment Management LLC now owns 2,592 shares of the software maker’s stock worth $277,000 after acquiring an additional 176 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors.
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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