Flinton Capital Management LLC raised its stake in ANSYS, Inc. (NASDAQ:ANSS) by 137.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,714 shares of the software maker’s stock after acquiring an additional 29,954 shares during the quarter. Flinton Capital Management LLC owned approximately 0.06% of ANSYS worth $7,633,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in ANSYS in the fourth quarter valued at about $122,000. Calton & Associates Inc. purchased a new position in ANSYS in the fourth quarter valued at about $184,000. Zions Bancorporation boosted its stake in ANSYS by 9,070.6% in the third quarter. Zions Bancorporation now owns 1,559 shares of the software maker’s stock valued at $191,000 after acquiring an additional 1,542 shares during the last quarter. Conning Inc. purchased a new position in ANSYS in the fourth quarter valued at about $204,000. Finally, Diversified Trust Co purchased a new position in ANSYS in the fourth quarter valued at about $210,000. Hedge funds and other institutional investors own 96.53% of the company’s stock.
Shares of ANSYS, Inc. (NASDAQ ANSS) opened at $167.75 on Wednesday. ANSYS, Inc. has a 12-month low of $104.55 and a 12-month high of $171.92. The stock has a market cap of $14,253.10, a P/E ratio of 56.10 and a beta of 1.04.
ANSYS announced that its board has authorized a share buyback program on Wednesday, February 21st that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the software maker to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of research analysts have weighed in on the stock. BidaskClub upgraded shares of ANSYS from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Berenberg Bank upgraded shares of ANSYS from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research note on Tuesday, January 30th. Zacks Investment Research upgraded shares of ANSYS from a “hold” rating to a “buy” rating and set a $181.00 target price on the stock in a research note on Wednesday, February 28th. Wedbush reiterated a “neutral” rating and issued a $136.00 target price (down from $160.00) on shares of ANSYS in a research note on Friday, February 23rd. Finally, ValuEngine upgraded shares of ANSYS from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. ANSYS currently has a consensus rating of “Hold” and an average price target of $132.00.
In other news, VP Richard S. Mahoney sold 1,625 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $161.90, for a total value of $263,087.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bradford C. Morley sold 24,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $165.06, for a total transaction of $4,043,970.00. The disclosure for this sale can be found here. In the last three months, insiders sold 61,691 shares of company stock worth $8,852,518. Insiders own 1.30% of the company’s stock.
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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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