ANSYS, Inc. (NASDAQ:ANSS) Stake Reduced by Inverness Counsel LLC NY

Inverness Counsel LLC NY cut its holdings in ANSYS, Inc. (NASDAQ:ANSS) by 32.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 57,172 shares of the software maker’s stock after selling 27,874 shares during the quarter. Inverness Counsel LLC NY’s holdings in ANSYS were worth $19,842,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. IFP Advisors Inc increased its stake in ANSYS by 54.7% in the 1st quarter. IFP Advisors Inc now owns 82 shares of the software maker’s stock worth $28,000 after purchasing an additional 29 shares in the last quarter. Fulton Bank N.A. increased its stake in ANSYS by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 1,203 shares of the software maker’s stock worth $417,000 after purchasing an additional 29 shares in the last quarter. NEXT Financial Group Inc grew its stake in ANSYS by 1.2% during the 2nd quarter. NEXT Financial Group Inc now owns 2,632 shares of the software maker’s stock valued at $914,000 after acquiring an additional 30 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in ANSYS by 54.1% during the 1st quarter. CSat Investment Advisory L.P. now owns 94 shares of the software maker’s stock valued at $32,000 after acquiring an additional 33 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in ANSYS by 19.0% during the 1st quarter. Penserra Capital Management LLC now owns 213 shares of the software maker’s stock valued at $72,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

In related news, Director Glenda Dorchak sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $364.98, for a total value of $109,494.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ajei Gopal sold 63,726 shares of the company’s stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $364.07, for a total value of $23,200,724.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,651 shares of company stock valued at $23,530,119. Corporate insiders own 0.63% of the company’s stock.

Several equities analysts have weighed in on the company. Rosenblatt Securities lifted their target price on ANSYS from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, August 6th. Benchmark lifted their target price on ANSYS from $370.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, August 6th. They noted that the move was a valuation call. Stifel Nicolaus assumed coverage on ANSYS in a research note on Tuesday, May 25th. They set a “hold” rating and a $365.00 target price on the stock. Citigroup lifted their target price on ANSYS from $345.00 to $380.00 and gave the company a “neutral” rating in a research note on Friday, August 6th. Finally, Credit Suisse Group boosted their price target on ANSYS from $389.00 to $398.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $349.75.

Shares of NASDAQ ANSS traded up $2.34 during trading hours on Wednesday, hitting $371.41. The stock had a trading volume of 819 shares, compared to its average volume of 419,167. The company has a market capitalization of $32.41 billion, a P/E ratio of 70.84, a P/E/G ratio of 5.52 and a beta of 1.23. The firm’s 50-day moving average price is $362.91 and its two-hundred day moving average price is $348.75. ANSYS, Inc. has a 52 week low of $292.79 and a 52 week high of $413.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.72 and a current ratio of 2.72.

ANSYS (NASDAQ:ANSS) last announced its quarterly earnings results on Tuesday, August 3rd. The software maker reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.29. ANSYS had a return on equity of 12.45% and a net margin of 25.40%. The business had revenue of $452.55 million during the quarter, compared to analysts’ expectations of $433.34 million. During the same quarter in the previous year, the business posted $1.55 EPS. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts expect that ANSYS, Inc. will post 5.48 EPS for the current fiscal year.

About ANSYS

ANSYS, Inc engages in the development and marketing of engineering simulation software and services. It operates through the following geographical segments: United States; Japan; Germany; South Korea; France; China; Other EMEA; and Other International. The firm’s solutions include automotive; aerospace and defense; construction; energy; materials and chemical processing; autonomous engineering; and electrification.

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Institutional Ownership by Quarter for ANSYS (NASDAQ:ANSS)

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