ANSYS, Inc. (ANSS) Stock Rating Upgraded by Zacks Investment Research
ANSYS, Inc. (NASDAQ:ANSS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “ANSYS reported better-than-expected second-quarter 2017 results which also marked year-over-year improvement. An upbeat 2017 outlook was also encouraging. ANSYS is a dominant player in the high-end design simulation software market. Notably, ANSYS has outperformed the industry in the last one year. 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.”
Other equities analysts also recently issued reports about the stock. UBS AG downgraded shares of ANSYS from an “overweight” rating to a “neutral” rating in a report on Thursday, May 4th. Evercore ISI set a $113.00 price objective on shares of ANSYS and gave the company a “hold” rating in a report on Saturday, June 10th. BidaskClub downgraded shares of ANSYS from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Barclays PLC reissued an “underweight” rating and issued a $115.00 target price (up previously from $96.00) on shares of ANSYS in a research report on Friday, May 5th. Finally, Wedbush reissued a “neutral” rating and issued a $101.00 target price (down previously from $114.00) on shares of ANSYS in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. ANSYS has a consensus rating of “Hold” and an average price target of $105.75.
Shares of ANSYS (ANSS) traded up 0.53% during mid-day trading on Monday, reaching $124.98. 317,231 shares of the company’s stock were exchanged. ANSYS has a 52-week low of $82.28 and a 52-week high of $131.63. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 40.16 and a beta of 1.10. The stock’s 50-day moving average is $123.95 and its 200-day moving average is $112.54.
ANSYS (NASDAQ:ANSS) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.07. ANSYS had a net margin of 26.37% and a return on equity of 13.87%. The firm had revenue of $264.30 million for the quarter, compared to the consensus estimate of $259.75 million. During the same period in the previous year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts expect that ANSYS will post $3.85 EPS for the current year.
In related news, Director Patrick J. Zilvitis sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $124.00, for a total transaction of $248,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Thurk sold 4,800 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $123.95, for a total transaction of $594,960.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently bought and sold shares of the company. Creative Planning boosted its stake in ANSYS by 68.6% in the second quarter. Creative Planning now owns 875 shares of the software maker’s stock valued at $106,000 after buying an additional 356 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in ANSYS during the first quarter valued at $128,000. Global X Management Co. LLC boosted its stake in ANSYS by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,263 shares of the software maker’s stock valued at $135,000 after buying an additional 296 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in ANSYS during the second quarter valued at $149,000. Finally, Pacer Advisors Inc. boosted its stake in ANSYS by 2.9% in the first quarter. Pacer Advisors Inc. now owns 1,539 shares of the software maker’s stock valued at $164,000 after buying an additional 44 shares in the last quarter. 98.16% of the stock is owned by institutional investors and hedge funds.
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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