ANSYS (ANSS) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of ANSYS (NASDAQ:ANSS) from a hold rating to a buy rating in a research report sent to investors on Thursday.
Several other equities analysts also recently commented on ANSS. Zacks Investment Research raised ANSYS from a hold rating to a buy rating and set a $181.00 target price on the stock in a research report on Wednesday, February 28th. BidaskClub downgraded ANSYS from a strong-buy rating to a buy rating in a research report on Saturday, February 24th. Wedbush reaffirmed a neutral rating and issued a $136.00 target price (down previously from $160.00) on shares of ANSYS in a research report on Friday, February 23rd. Berenberg Bank raised ANSYS from a hold rating to a buy rating and set a $123.00 target price on the stock in a research report on Tuesday, January 30th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of ANSYS in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. ANSYS currently has a consensus rating of Hold and an average target price of $132.00.
ANSYS (ANSS) opened at $162.63 on Thursday. ANSYS has a 12-month low of $104.55 and a 12-month high of $169.45. The company has a market capitalization of $13,640.00, a P/E ratio of 45.81 and a beta of 1.04.
ANSYS announced that its Board of Directors has initiated a share buyback program on Wednesday, February 21st that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In other ANSYS news, VP Richard S. Mahoney sold 2,039 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $162.01, for a total transaction of $330,338.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maria T. Shields sold 25,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $162.52, for a total value of $4,063,000.00. The disclosure for this sale can be found here. Insiders have sold 35,566 shares of company stock worth $4,545,460 in the last three months. 1.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANSS. Cerebellum GP LLC bought a new stake in ANSYS during the fourth quarter worth $122,000. Calton & Associates Inc. bought a new stake in ANSYS during the fourth quarter worth $184,000. Zions Bancorporation lifted its stake in ANSYS by 9,070.6% during the third quarter. Zions Bancorporation now owns 1,559 shares of the software maker’s stock worth $191,000 after purchasing an additional 1,542 shares during the last quarter. Calamos Advisors LLC bought a new stake in ANSYS during the third quarter worth $201,000. Finally, Tocqueville Asset Management L.P. bought a new stake in ANSYS during the third quarter worth $204,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.
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ANSYS Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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