PNC Financial Services Group Inc. trimmed its position in shares of ANSYS, Inc. (NASDAQ:ANSS – Free Report) by 31.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,243 shares of the software maker’s stock after selling 19,179 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ANSYS were worth $13,621,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in ANSYS by 93,751.0% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 141,906,427 shares of the software maker’s stock valued at $46,867,436,000 after acquiring an additional 141,755,223 shares during the period. Vanguard Group Inc. boosted its stake in shares of ANSYS by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 9,524,822 shares of the software maker’s stock valued at $3,025,560,000 after buying an additional 110,111 shares during the period. BlackRock Inc. boosted its stake in shares of ANSYS by 4.9% in the 1st quarter. BlackRock Inc. now owns 9,226,734 shares of the software maker’s stock valued at $3,070,657,000 after buying an additional 430,927 shares during the period. State Street Corp boosted its stake in shares of ANSYS by 2.7% in the 1st quarter. State Street Corp now owns 3,471,286 shares of the software maker’s stock valued at $1,155,244,000 after buying an additional 90,769 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of ANSYS by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 1,868,168 shares of the software maker’s stock valued at $620,366,000 after buying an additional 38,946 shares during the period. 90.21% of the stock is currently owned by hedge funds and other institutional investors.
ANSYS Trading Down 0.2 %
ANSS opened at $297.90 on Friday. The firm has a market cap of $25.88 billion, a price-to-earnings ratio of 53.77, a price-to-earnings-growth ratio of 5.85 and a beta of 1.20. ANSYS, Inc. has a 52 week low of $230.00 and a 52 week high of $351.23. The business’s 50 day moving average is $292.10 and its two-hundred day moving average is $309.48. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.15.
ANSYS (NASDAQ:ANSS – Get Free Report) last released its earnings results on Wednesday, November 1st. The software maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.13. The business had revenue of $458.80 million for the quarter, compared to analyst estimates of $466.57 million. ANSYS had a return on equity of 10.73% and a net margin of 22.40%. On average, research analysts predict that ANSYS, Inc. will post 6.47 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on ANSS shares. TheStreet cut ANSYS from a “b-” rating to a “c+” rating in a research note on Tuesday, August 22nd. Bank of America cut ANSYS from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $356.00 to $295.00 in a research note on Tuesday, November 14th. Royal Bank of Canada decreased their price objective on ANSYS from $310.00 to $290.00 and set a “sector perform” rating for the company in a research note on Friday, November 3rd. StockNews.com started coverage on ANSYS in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, William Blair reiterated a “market perform” rating on shares of ANSYS in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, ANSYS presently has a consensus rating of “Hold” and a consensus target price of $313.90.
Get Our Latest Stock Report on ANSYS
Insider Activity
In other news, CEO Ajei Gopal sold 12,270 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $305.23, for a total value of $3,745,172.10. Following the transaction, the chief executive officer now owns 213,977 shares of the company’s stock, valued at $65,312,199.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Ajei Gopal sold 12,270 shares of the company’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $305.23, for a total transaction of $3,745,172.10. Following the transaction, the chief executive officer now owns 213,977 shares of the company’s stock, valued at $65,312,199.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glenda Dorchak sold 222 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $292.95, for a total value of $65,034.90. Following the transaction, the director now directly owns 3,399 shares in the company, valued at approximately $995,737.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,058 shares of company stock valued at $6,663,649. Company insiders own 0.53% of the company’s stock.
ANSYS Profile
ANSYS, Inc develops and markets engineering simulation software and services worldwide. It offers ANSYS Workbench, a framework upon which its multiphysics engineering simulation technologies are built and enables engineers to simulate the interactions between structures, heat transfer, fluids, electronics, and optical elements in a unified engineering simulation environment; high-performance computing product suite and the cloud; power analysis and optimization software suite that manages the power budget, power delivery integrity, and power-induced noise in an electronic design; and structural analysis product suite that provides simulation tools for product design and optimization.
Further Reading
NASDAQ: ANSS” width=”650″ height=”350″ loading=”lazy”>
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider ANSYS, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and ANSYS wasn’t on the list.
While ANSYS currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Source: marketbeat.com
