ANSYS (NASDAQ:ANSS) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.
A number of other research analysts have also recently weighed in on ANSS. Wedbush reaffirmed a “neutral” rating and set a $136.00 price target (down from $160.00) on shares of ANSYS in a research report on Friday. Berenberg Bank raised shares of ANSYS from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research report on Tuesday, January 30th. Needham & Company LLC reissued a “hold” rating on shares of ANSYS in a research report on Friday, November 3rd. Royal Bank of Canada boosted their target price on shares of ANSYS from $130.00 to $147.00 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. Finally, Evercore ISI reissued a “hold” rating and set a $113.00 target price on shares of ANSYS in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $130.91.
ANSYS (NASDAQ ANSS) opened at $160.89 on Friday. The firm has a market cap of $13,494.01, a P/E ratio of 53.81 and a beta of 1.07. ANSYS has a 12-month low of $102.10 and a 12-month high of $169.45.
ANSYS declared that its board has approved a share repurchase program on Wednesday, February 21st that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, VP Richard S. Mahoney sold 2,039 shares of ANSYS stock in a transaction on Friday, February 16th. The shares were sold at an average price of $162.01, for a total value of $330,338.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maria T. Shields sold 25,000 shares of ANSYS stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $162.52, for a total transaction of $4,063,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,566 shares of company stock worth $5,303,960. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of ANSYS by 7.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,342 shares of the software maker’s stock worth $528,000 after buying an additional 319 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of ANSYS by 2.6% in the third quarter. Janney Montgomery Scott LLC now owns 13,884 shares of the software maker’s stock worth $1,704,000 after buying an additional 356 shares during the last quarter. Cookson Peirce & Co. Inc. increased its stake in shares of ANSYS by 14.5% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 3,475 shares of the software maker’s stock worth $513,000 after buying an additional 440 shares during the last quarter. First Republic Investment Management Inc. increased its stake in shares of ANSYS by 12.6% in the fourth quarter. First Republic Investment Management Inc. now owns 4,025 shares of the software maker’s stock worth $594,000 after buying an additional 451 shares during the last quarter. Finally, Corient Capital Partners LLC increased its stake in shares of ANSYS by 6.6% in the fourth quarter. Corient Capital Partners LLC now owns 7,253 shares of the software maker’s stock worth $1,070,000 after buying an additional 452 shares during the last quarter. Institutional investors and hedge funds own 95.24% of the company’s stock.
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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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