ANSYS, Inc. (ANSS) Downgraded by Zacks Investment Research to Sell
ANSYS, Inc. (NASDAQ:ANSS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “ANSYS is a dominant player in the high-end design simulation software market. 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 will aid the stock to sustain momentum. Further, the ongoing restructuring and investments on product development along with sales execution are positives, in our view. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe and adverse foreign currency exchange rates are other major concerns. ANSYS has underperformed the Zacks categorized Computer Software industry on a year-to-date basis.”
A number of other equities research analysts also recently issued reports on the company. BidaskClub downgraded ANSYS from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Evercore ISI set a $113.00 price target on ANSYS and gave the company a “hold” rating in a research note on Saturday, June 10th. Wedbush cut their price target on ANSYS from $114.00 to $101.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. Barclays PLC cut their price target on ANSYS from $115.00 to $96.00 and set an “underweight” rating for the company in a research note on Monday, May 15th. Finally, Mitsubishi UFJ Financial Group downgraded ANSYS from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $112.00 to $114.00 in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $104.86.
ANSYS (NASDAQ ANSS) traded down 0.99% during mid-day trading on Tuesday, hitting $120.47. 402,527 shares of the stock traded hands. The firm’s 50-day moving average is $123.57 and its 200 day moving average is $107.44. The firm has a market cap of $10.30 billion, a P/E ratio of 38.95 and a beta of 1.09. ANSYS has a 52-week low of $82.28 and a 52-week high of $129.85.
ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, May 3rd. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. The business had revenue of $253.41 million during the quarter, compared to the consensus estimate of $241.52 million. ANSYS had a return on equity of 13.81% and a net margin of 26.82%. Equities analysts predict that ANSYS will post $3.78 EPS for the current fiscal year.
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In related news, Director Patrick J. Zilvitis sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $124.00, for a total value of $248,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Thurk sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $123.95, for a total value of $594,960.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,932 shares of company stock worth $1,386,704. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ANSS. Louisiana State Employees Retirement System boosted its stake in shares of ANSYS by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the software maker’s stock valued at $2,308,000 after buying an additional 200 shares during the period. Atria Investments LLC boosted its stake in shares of ANSYS by 14.4% in the first quarter. Atria Investments LLC now owns 4,492 shares of the software maker’s stock valued at $480,000 after buying an additional 564 shares during the period. Parametrica Management Ltd purchased a new stake in shares of ANSYS during the first quarter valued at about $233,000. Capstone Asset Management Co. boosted its stake in shares of ANSYS by 3.2% in the first quarter. Capstone Asset Management Co. now owns 7,460 shares of the software maker’s stock valued at $797,000 after buying an additional 230 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in shares of ANSYS by 1.9% in the first quarter. Gulf International Bank UK Ltd now owns 27,013 shares of the software maker’s stock valued at $2,886,000 after buying an additional 500 shares during the period. 98.41% of the stock is currently owned by institutional investors.
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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