Dynamic Technology Lab Private Ltd Cuts Holdings in ANSYS, Inc. (ANSS)
Dynamic Technology Lab Private Ltd decreased its position in ANSYS, Inc. (NASDAQ:ANSS) by 82.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,894 shares of the software maker’s stock after selling 9,111 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in ANSYS were worth $330,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Fort L.P. purchased a new position in ANSYS during the second quarter worth about $121,000. Piedmont Investment Advisors LLC purchased a new position in shares of ANSYS in the 2nd quarter worth about $166,000. Steward Partners Investment Advisory LLC raised its holdings in shares of ANSYS by 338.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,040 shares of the software maker’s stock worth $181,000 after purchasing an additional 803 shares during the period. Eagle Ridge Investment Management purchased a new position in shares of ANSYS in the 2nd quarter worth about $216,000. Finally, Fiera Capital Corp acquired a new stake in shares of ANSYS in the first quarter valued at about $211,000. 95.32% of the stock is currently owned by institutional investors.
In related news, Director Barbara Vaughn Scherer sold 2,454 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $187.99, for a total transaction of $461,327.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Cashman III sold 30,000 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $171.39, for a total value of $5,141,700.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,350 shares of company stock valued at $8,694,511. Insiders own 1.10% of the company’s stock.
ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Monday, August 6th. The software maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The business had revenue of $308.90 million for the quarter, compared to the consensus estimate of $288.26 million. ANSYS had a return on equity of 14.95% and a net margin of 25.98%. ANSYS’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, sell-side analysts expect that ANSYS, Inc. will post 4.54 EPS for the current year.
A number of research firms have recently issued reports on ANSS. BidaskClub lowered ANSYS from a “hold” rating to a “sell” rating in a research note on Friday. William Blair assumed coverage on ANSYS in a research report on Tuesday. They issued a “market perform” rating for the company. Wedbush reiterated a “neutral” rating and issued a $168.00 target price (down previously from $180.00) on shares of ANSYS in a research report on Thursday, September 6th. Citigroup reissued an “overweight” rating on shares of ANSYS in a report on Tuesday, August 14th. Finally, Barclays lifted their target price on ANSYS from $152.00 to $162.00 and gave the company an “underweight” rating in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $172.20.
ANSYS, Inc develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which the company's engineering simulation technologies are built; ANSYS multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; and structural analysis product suite that provides simulation tools for product design and optimization.
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