ANSYS (NASDAQ:ANSS) Receives “Buy” Rating from Needham & Company LLC

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Needham & Company LLC reiterated their buy rating on shares of ANSYS (NASDAQ:ANSS) in a report published on Thursday morning, AnalystRatings.com reports. They currently have a $220.00 target price on the software maker’s stock.

Several other brokerages also recently commented on ANSS. BidaskClub downgraded ANSYS from a buy rating to a hold rating in a research note on Thursday, October 24th. Evercore ISI set a $186.00 price objective on ANSYS and gave the stock a hold rating in a research note on Sunday, November 3rd. Griffin Securities raised ANSYS from a neutral rating to a buy rating and set a $240.00 price objective for the company in a research note on Friday, September 13th. Guggenheim reissued a buy rating on shares of ANSYS in a research note on Wednesday, September 4th. Finally, Wedbush increased their price objective on ANSYS from $232.00 to $254.00 and gave the stock an outperform rating in a research note on Friday, September 13th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $223.60.

Shares of NASDAQ ANSS traded down $0.91 during trading on Thursday, reaching $224.31. The company had a trading volume of 597,400 shares, compared to its average volume of 430,605. The company’s fifty day moving average price is $220.17 and its 200-day moving average price is $205.93. ANSYS has a 12 month low of $136.80 and a 12 month high of $229.20. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.03. The stock has a market cap of $18.33 billion, a P/E ratio of 43.05 and a beta of 1.39.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings data on Wednesday, November 6th. The software maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.00 by $0.42. The firm had revenue of $343.90 million during the quarter, compared to the consensus estimate of $334.40 million. ANSYS had a return on equity of 17.17% and a net margin of 31.53%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 earnings per share. As a group, equities analysts predict that ANSYS will post 5.2 earnings per share for the current year.

In other news, VP Janet Lee sold 1,174 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $215.26, for a total value of $252,715.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.11% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI grew its holdings in shares of ANSYS by 64.5% in the third quarter. Citizens Financial Group Inc RI now owns 125 shares of the software maker’s stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of ANSYS by 146.8% in the third quarter. Parallel Advisors LLC now owns 153 shares of the software maker’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Motco bought a new position in shares of ANSYS in the second quarter valued at approximately $38,000. Ibex Wealth Advisors bought a new position in shares of ANSYS in the second quarter valued at approximately $39,000. Finally, CSat Investment Advisory L.P. grew its holdings in shares of ANSYS by 129.7% in the second quarter. CSat Investment Advisory L.P. now owns 255 shares of the software maker’s stock valued at $52,000 after acquiring an additional 144 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

ANSYS Company Profile

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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Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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