Redwood Wealth Management Group LLC Buys New Stake in ANSYS, Inc. (NASDAQ:ANSS)

Redwood Wealth Management Group LLC purchased a new stake in ANSYS, Inc. (NASDAQ:ANSS) during the second quarter, HoldingsChannel.com reports. The fund purchased 101 shares of the software maker’s stock, valued at approximately $32,000.

Several other hedge funds have also bought and sold shares of the stock. Quest Partners LLC purchased a new position in shares of ANSYS during the fourth quarter valued at about $29,000. DT Investment Partners LLC boosted its stake in ANSYS by 888.9% during the second quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock valued at $29,000 after buying an additional 80 shares during the last quarter. DSM Capital Partners LLC purchased a new position in ANSYS during the 4th quarter valued at approximately $34,000. Rothschild Investment LLC bought a new stake in ANSYS in the 2nd quarter worth approximately $38,000. Finally, Core Wealth Advisors Inc. purchased a new stake in shares of ANSYS during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.

ANSYS Trading Down 0.2 %

Shares of ANSS opened at $318.51 on Monday. The company’s fifty day simple moving average is $316.75 and its 200-day simple moving average is $325.63. The company has a market cap of $27.81 billion, a P/E ratio of 63.96, a P/E/G ratio of 6.80 and a beta of 1.12. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.13. ANSYS, Inc. has a twelve month low of $258.01 and a twelve month high of $364.31.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings data on Wednesday, July 31st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.58. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The company had revenue of $594.14 million for the quarter, compared to analyst estimates of $550.30 million. During the same period in the prior year, the company posted $1.06 EPS. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, analysts expect that ANSYS, Inc. will post 7.32 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ANSS. KeyCorp started coverage on shares of ANSYS in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. StockNews.com began coverage on shares of ANSYS in a research note on Saturday. They issued a “hold” rating for the company. Finally, Rosenblatt Securities decreased their target price on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $318.33.

Insider Buying and Selling

In other ANSYS news, Director Glenda Dorchak sold 159 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $330.81, for a total value of $52,598.79. Following the transaction, the director now owns 3,782 shares of the company’s stock, valued at approximately $1,251,123.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.