Zacks Investment Research Lowers ANSYS (ANSS) to Hold
Zacks Investment Research downgraded shares of ANSYS (NASDAQ:ANSS) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “ANSYS is a dominant player in the high-end design simulation software market. The company recently acquired 3DSIM. We note that ANSYS’s timely acquisitions have significantly expanded product portfolio. 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 are the catalysts. Notably, the stock has outperformed the industry on the past one year. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe remains a major concern.”
Several other equities research analysts have also recently weighed in on ANSS. KeyCorp restated a hold rating on shares of ANSYS in a report on Friday, September 29th. Robert W. Baird set a $130.00 target price on ANSYS and gave the company a buy rating in a report on Sunday, October 1st. Citigroup assumed coverage on ANSYS in a report on Friday, September 22nd. They set a neutral rating and a $125.00 target price for the company. Needham & Company LLC restated a hold rating on shares of ANSYS in a report on Friday, November 3rd. Finally, Wedbush restated a neutral rating and set a $114.00 target price (down from $136.00) on shares of ANSYS in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $128.91.
ANSYS (NASDAQ:ANSS) last posted its quarterly earnings data on Wednesday, November 1st. The software maker reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. ANSYS had a return on equity of 13.67% and a net margin of 26.01%. The firm had revenue of $276.77 million during the quarter, compared to analysts’ expectations of $263.77 million. During the same period in the prior year, the business earned $0.95 EPS. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. equities analysts anticipate that ANSYS will post 3.57 EPS for the current fiscal year.
In other news, VP Shane Emswiler sold 12,504 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $151.96, for a total value of $1,900,107.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard S. Mahoney sold 8,527 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $17.84, for a total value of $152,121.68. The disclosure for this sale can be found here. Insiders have sold a total of 27,031 shares of company stock valued at $2,960,730 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. 1st Global Advisors Inc. raised its position in shares of ANSYS by 0.8% in the 2nd quarter. 1st Global Advisors Inc. now owns 2,364 shares of the software maker’s stock worth $288,000 after acquiring an additional 18 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of ANSYS by 7.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 995 shares of the software maker’s stock worth $121,000 after acquiring an additional 69 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of ANSYS by 7.5% in the 2nd quarter. Pacer Advisors Inc. now owns 1,655 shares of the software maker’s stock worth $201,000 after acquiring an additional 116 shares in the last quarter. Jacobson & Schmitt Advisors LLC raised its position in shares of ANSYS by 0.5% in the 2nd quarter. Jacobson & Schmitt Advisors LLC now owns 40,452 shares of the software maker’s stock worth $4,922,000 after acquiring an additional 200 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. raised its position in shares of ANSYS by 8.4% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 2,700 shares of the software maker’s stock worth $329,000 after acquiring an additional 210 shares in the last quarter. 96.67% of the stock is owned by hedge funds and other institutional investors.
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.
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