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

Summit Financial LLC purchased a new position in ANSYS, Inc. (NASDAQ:ANSS) in the fourth quarter, HoldingsChannel reports. The fund purchased 556 shares of the software maker’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CVA Family Office LLC purchased a new stake in ANSYS in the fourth quarter worth about $28,000. Raleigh Capital Management Inc. grew its stake in shares of ANSYS by 135.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 99 shares of the software maker’s stock worth $29,000 after buying an additional 57 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in ANSYS during the 4th quarter valued at approximately $47,000. KB Financial Partners LLC raised its stake in ANSYS by 69.5% during the third quarter. KB Financial Partners LLC now owns 178 shares of the software maker’s stock valued at $53,000 after buying an additional 73 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in ANSYS by 18.1% in the third quarter. Lindbrook Capital LLC now owns 241 shares of the software maker’s stock worth $72,000 after acquiring an additional 37 shares in the last quarter. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other ANSYS news, Director Glenda Dorchak sold 150 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $342.08, for a total transaction of $51,312.00. Following 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 SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho lowered their price target on ANSYS from $350.00 to $330.00 and set a “neutral” rating for the company in a research report on Wednesday, January 17th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $345.00 target price on shares of ANSYS in a report on Friday. Wolfe Research reiterated a “peer perform” rating on shares of ANSYS in a report on Wednesday, January 17th. Barclays increased their target price on ANSYS from $314.00 to $340.00 and gave the company an “underweight” rating in a research note on Thursday, February 22nd. Finally, StockNews.com started coverage on ANSYS in a research note on Wednesday. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $320.00.

ANSYS Stock Up 1.6 %

ANSYS stock opened at $319.52 on Friday. ANSYS, Inc. has a one year low of $258.01 and a one year high of $364.31. The stock has a fifty day moving average of $336.00 and a 200 day moving average 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. The stock has a market cap of $27.89 billion, a PE ratio of 64.16, a price-to-earnings-growth ratio of 4.93 and a beta of 1.16.

ANSYS (NASDAQ:ANSS) last announced its earnings results on Wednesday, May 1st. The software maker reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.54). ANSYS had a return on equity of 10.45% and a net margin of 19.51%. The company had revenue of $466.60 million during the quarter, compared to the consensus estimate of $549.85 million. During the same period in the prior year, the business posted $1.45 earnings per share. ANSYS’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that ANSYS, Inc. will post 7.39 EPS for the current year.

ANSYS Company Profile

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.