Truist Financial Corp Has $11.94 Million Holdings in ANSYS, Inc. (NASDAQ:ANSS)

Truist Financial Corp trimmed its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS) by 22.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,907 shares of the software maker’s stock after selling 9,494 shares during the period. Truist Financial Corp’s holdings in ANSYS were worth $11,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Verdence Capital Advisors LLC increased its holdings in ANSYS by 1.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,071 shares of the software maker’s stock valued at $752,000 after purchasing an additional 35 shares in the last quarter. Wealth Alliance increased its holdings in ANSYS by 2.4% during the 4th quarter. Wealth Alliance now owns 1,523 shares of the software maker’s stock valued at $553,000 after purchasing an additional 36 shares in the last quarter. Lindbrook Capital LLC increased its holdings in ANSYS by 18.1% during the 3rd quarter. Lindbrook Capital LLC now owns 241 shares of the software maker’s stock valued at $72,000 after purchasing an additional 37 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in ANSYS by 2.7% during the 3rd quarter. Perigon Wealth Management LLC now owns 1,544 shares of the software maker’s stock valued at $459,000 after purchasing an additional 40 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in ANSYS by 4.2% during the 4th quarter. Ballentine Partners LLC now owns 1,038 shares of the software maker’s stock valued at $377,000 after purchasing an additional 42 shares in the last quarter. 92.39% of the stock is owned by institutional investors and hedge funds.

ANSYS Stock Down 1.0 %

NASDAQ:ANSS opened at $321.48 on Thursday. The stock’s fifty day simple moving average is $336.51 and its 200-day simple moving average is $322.06. The firm has a market capitalization of $28.07 billion, a P/E ratio of 56.10, a P/E/G ratio of 5.17 and a beta of 1.16. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.14. ANSYS, Inc. has a 12-month low of $258.01 and a 12-month high of $364.31.

ANSYS (NASDAQ:ANSS) last posted its earnings results on Wednesday, May 1st. The software maker reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.54). The company had revenue of $466.60 million for the quarter, compared to analyst estimates of $549.85 million. ANSYS had a return on equity of 11.83% and a net margin of 22.05%. ANSYS’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Equities research analysts expect that ANSYS, Inc. will post 7.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ANSS. Mizuho dropped their price target on ANSYS from $350.00 to $330.00 and set a “neutral” rating for the company in a report on Wednesday, January 17th. StockNews.com started coverage on ANSYS in a research note on Wednesday. They issued a “hold” rating for the company. Rosenblatt Securities restated a “neutral” rating and set a $345.00 target price on shares of ANSYS in a research report on Tuesday, March 5th. Wolfe Research reiterated a “peer perform” rating on shares of ANSYS in a report on Wednesday, January 17th. Finally, Barclays lifted their price objective on ANSYS from $314.00 to $340.00 and gave the stock an “underweight” rating in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $320.00.

Insider Activity at ANSYS

In other ANSYS news, Director Glenda Dorchak sold 150 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $342.08, for a total value of $51,312.00. Following the sale, the director now directly owns 3,049 shares in the company, valued at $1,043,001.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

ANSYS Company Profile

ANSYS, Inc develops and markets engineering simulation software and services for engineers, designers, researchers, and students in the United States, Japan, Germany, China, Hong Kong, South Korea, rest of Europe, the Middle East, Africa, and internationally. It offers structural analysis product suite that provides simulation tools for product design and optimization; the Ansys Mechanical product, an element analysis software; LS-DYNA solver for multiphysics simulation; and power analysis and optimization software suite.