BidaskClub upgraded shares of ANSYS (NASDAQ:ANSS) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.
Several other research analysts have also issued reports on ANSS. Zacks Investment Research lowered ANSYS from a buy rating to a hold rating in a research note on Tuesday, January 2nd. Berenberg Bank upgraded ANSYS from a hold rating to a buy rating and set a $123.00 price objective for the company in a research note on Tuesday, January 30th. Wedbush reiterated a neutral rating and set a $136.00 price objective (down from $160.00) on shares of ANSYS in a research note on Friday, February 23rd. Finally, ValuEngine upgraded ANSYS from a hold rating to a buy rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ANSYS has a consensus rating of Hold and an average target price of $132.00.
ANSYS (NASDAQ ANSS) opened at $169.94 on Friday. ANSYS has a 12 month low of $104.55 and a 12 month high of $171.92. The stock has a market capitalization of $14,420.00, a price-to-earnings ratio of 53.61 and a beta of 1.04.
ANSYS announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 21st that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the software maker to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, CFO Maria T. Shields sold 25,000 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Richard S. Mahoney sold 8,527 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $17.84, for a total value of $152,121.68. The disclosure for this sale can be found here. Insiders have sold 61,691 shares of company stock worth $8,852,518 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB boosted its holdings in ANSYS by 5.6% in the fourth quarter. Xact Kapitalforvaltning AB now owns 16,318 shares of the software maker’s stock valued at $2,408,000 after acquiring an additional 861 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in ANSYS by 1.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,793 shares of the software maker’s stock valued at $10,891,000 after acquiring an additional 772 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in ANSYS by 6.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,762 shares of the software maker’s stock valued at $7,197,000 after acquiring an additional 2,895 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in ANSYS by 25.7% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,400 shares of the software maker’s stock valued at $649,000 after acquiring an additional 900 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in ANSYS in the fourth quarter valued at about $235,000. Institutional investors own 96.53% 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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