ANSYS, Inc. (ANSS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of ANSYS, Inc. (NASDAQ:ANSS) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The firm currently has $139.00 target price on the software maker’s stock.
According to Zacks, “ANSYS is a dominant player in the high-end design simulation software market. Notably, the stock has outperformed the industry on a year-to-date basis. 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.”
A number of other research analysts have also commented on ANSS. BidaskClub lowered shares of ANSYS from a strong-buy rating to a buy rating in a research report on Friday, June 9th. Evercore ISI set a $113.00 price target on shares of ANSYS and gave the company a hold rating in a research report on Saturday, June 10th. Goldman Sachs Group, Inc. (The) started coverage on shares of ANSYS in a research report on Monday, July 17th. They set a neutral rating and a $112.00 price target for the company. Berenberg Bank started coverage on shares of ANSYS in a research report on Wednesday, August 23rd. They set a hold rating and a $123.00 price target for the company. Finally, Robert W. Baird set a $130.00 price target on shares of ANSYS and gave the company a buy rating in a research report on Monday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $116.68.
Shares of ANSYS (NASDAQ:ANSS) opened at 124.96 on Tuesday. The company has a market capitalization of $10.59 billion, a PE ratio of 40.15 and a beta of 1.05. ANSYS has a 1-year low of $82.28 and a 1-year high of $132.74. The firm’s 50-day moving average price is $125.80 and its 200 day moving average price is $120.68.
ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The firm had revenue of $264.30 million during the quarter, compared to analyst estimates of $259.75 million. ANSYS had a net margin of 26.37% and a return on equity of 13.87%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. Equities analysts predict that ANSYS will post $3.87 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of ANSS. BlackRock Inc. lifted its holdings in shares of ANSYS by 5,399.5% during the 1st quarter. BlackRock Inc. now owns 9,118,117 shares of the software maker’s stock worth $974,453,000 after acquiring an additional 8,952,318 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ANSYS by 21.8% during the 2nd quarter. Vanguard Group Inc. now owns 8,496,114 shares of the software maker’s stock worth $1,033,807,000 after acquiring an additional 1,520,201 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of ANSYS by 54.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,806,833 shares of the software maker’s stock worth $299,966,000 after acquiring an additional 987,326 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of ANSYS during the 2nd quarter worth $971,000. Finally, Aristotle Capital Management LLC lifted its holdings in shares of ANSYS by 90.5% during the 1st quarter. Aristotle Capital Management LLC now owns 1,894,434 shares of the software maker’s stock worth $202,459,000 after acquiring an additional 899,793 shares during the last quarter. 96.78% of the stock is 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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