State Treasurer State of Michigan boosted its position in shares of ANSYS, Inc. (NASDAQ:ANSS) by 0.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 24,100 shares of the software maker’s stock after purchasing an additional 200 shares during the quarter. State Treasurer State of Michigan’s holdings in ANSYS were worth $4,403,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in ANSYS during the 1st quarter worth $28,000. Flagship Harbor Advisors LLC lifted its stake in shares of ANSYS by 198.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 182 shares of the software maker’s stock valued at $33,000 after purchasing an additional 121 shares during the period. Washington Trust Bank lifted its stake in shares of ANSYS by 43.8% in the 1st quarter. Washington Trust Bank now owns 210 shares of the software maker’s stock valued at $39,000 after purchasing an additional 64 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of ANSYS by 77.8% in the 4th quarter. AdvisorNet Financial Inc now owns 320 shares of the software maker’s stock valued at $46,000 after purchasing an additional 140 shares during the period. Finally, Gemmer Asset Management LLC lifted its stake in shares of ANSYS by 92.6% in the 1st quarter. Gemmer Asset Management LLC now owns 337 shares of the software maker’s stock valued at $62,000 after purchasing an additional 162 shares during the period. 93.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on ANSS shares. BidaskClub raised ANSYS from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Zacks Investment Research raised ANSYS from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research note on Wednesday, March 6th. Finally, Benchmark reissued a “buy” rating and issued a $210.00 price target (up previously from $203.00) on shares of ANSYS in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $188.14.
ANSYS (NASDAQ:ANSS) last released its quarterly earnings data on Wednesday, May 1st. The software maker reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.11. ANSYS had a net margin of 31.73% and a return on equity of 17.08%. The business had revenue of $319.91 million during the quarter, compared to analysts’ expectations of $306.17 million. During the same quarter in the prior year, the company earned $1.22 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities research analysts expect that ANSYS, Inc. will post 5.07 earnings per share for the current fiscal year.
In related news, VP Matthew C. Zack sold 1,116 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $194.80, for a total value of $217,396.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ajei Gopal sold 17,255 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $181.56, for a total value of $3,132,817.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,676 shares of company stock valued at $10,658,783. 1.11% of the stock is owned by corporate insiders.
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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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