Summit Financial LLC Invests $202,000 in ANSYS, Inc. (NASDAQ:ANSS)

Summit Financial LLC bought a new stake in ANSYS, Inc. (NASDAQ:ANSS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 556 shares of the software maker’s stock, valued at approximately $202,000.

Several other hedge funds have also recently added to or reduced their stakes in ANSS. Buckhead Capital Management LLC lifted its stake in shares of ANSYS by 16.1% in the 4th quarter. Buckhead Capital Management LLC now owns 1,696 shares of the software maker’s stock worth $615,000 after acquiring an additional 235 shares during the period. Victory Capital Management Inc. raised its holdings in ANSYS by 3.4% during the fourth quarter. Victory Capital Management Inc. now owns 75,641 shares of the software maker’s stock worth $27,449,000 after purchasing an additional 2,478 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its position in ANSYS by 6.3% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 1,264 shares of the software maker’s stock worth $459,000 after purchasing an additional 75 shares during the period. Golden State Equity Partners bought a new position in ANSYS during the 4th quarter valued at $356,000. Finally, Lyell Wealth Management LP acquired a new position in shares of ANSYS during the 4th quarter valued at $209,000. Institutional investors own 92.39% of the company’s stock.

ANSYS Trading Up 1.6 %

ANSYS stock opened at $319.52 on Friday. The company has a 50 day moving average price of $336.00 and a 200 day moving average price of $322.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.30 and a current ratio of 2.80. ANSYS, Inc. has a 52 week low of $258.01 and a 52 week high of $364.31. The firm has a market capitalization of $27.89 billion, a price-to-earnings ratio of 64.16, a P/E/G ratio of 4.93 and a beta of 1.16.

ANSYS (NASDAQ:ANSS) last issued its earnings results on Wednesday, May 1st. The software maker reported $1.39 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.54). The business had revenue of $466.60 million during the quarter, compared to analyst estimates of $549.85 million. ANSYS had a return on equity of 10.45% and a net margin of 19.51%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. Research analysts forecast that ANSYS, Inc. will post 7.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 150 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $342.08, for a total value of $51,312.00. Following the completion of the sale, the director now directly owns 3,049 shares of the company’s stock, valued at $1,043,001.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ANSS shares. StockNews.com began coverage on ANSYS in a research note on Wednesday. They set a “hold” rating for the company. Wolfe Research reiterated a “peer perform” rating on shares of ANSYS in a report on Wednesday, January 17th. Mizuho reduced their target price on shares of ANSYS from $350.00 to $330.00 and set a “neutral” rating for the company in a report on Wednesday, January 17th. Barclays lifted their price target on shares of ANSYS from $314.00 to $340.00 and gave the stock an “underweight” rating in a research report on Thursday, February 22nd. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $345.00 price objective on shares of ANSYS in a research report on Friday. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $320.00.

About ANSYS

ANSYS, Inc develops and markets engineering simulation software and services for engineers, designers, researchers, and students in the United States, Japan, Germany, China, Hong Kong, South Korea, rest of Europe, the Middle East, Africa, and internationally. It offers structural analysis product suite that provides simulation tools for product design and optimization; the Ansys Mechanical product, an element analysis software; LS-DYNA solver for multiphysics simulation; and power analysis and optimization software suite.