Confluence Wealth Services Inc. Cuts Holdings in ANSYS, Inc. (NASDAQ:ANSS)

Confluence Wealth Services Inc. reduced its position in shares of ANSYS, Inc. (NASDAQ:ANSS) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,516 shares of the software maker’s stock after selling 50 shares during the period. Confluence Wealth Services Inc.’s holdings in ANSYS were worth $483,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in ANSYS by 0.7% during the first quarter. Vanguard Group Inc. now owns 10,234,642 shares of the software maker’s stock worth $3,553,058,000 after purchasing an additional 73,585 shares in the last quarter. Earnest Partners LLC lifted its position in shares of ANSYS by 2.5% during the 2nd quarter. Earnest Partners LLC now owns 607,029 shares of the software maker’s stock valued at $195,160,000 after buying an additional 15,012 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in ANSYS by 4.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 522,613 shares of the software maker’s stock valued at $167,985,000 after acquiring an additional 22,836 shares during the period. Sei Investments Co. increased its holdings in ANSYS by 1.6% in the 2nd quarter. Sei Investments Co. now owns 423,892 shares of the software maker’s stock worth $136,281,000 after acquiring an additional 6,867 shares in the last quarter. Finally, CCLA Investment Management raised its position in ANSYS by 1.1% during the second quarter. CCLA Investment Management now owns 398,560 shares of the software maker’s stock worth $128,081,000 after acquiring an additional 4,200 shares during the period. 92.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANSS. StockNews.com upgraded shares of ANSYS from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Rosenblatt Securities cut their price objective on ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $325.00.

ANSYS Stock Performance

NASDAQ:ANSS opened at $323.75 on Monday. The company has a market cap of $28.29 billion, a P/E ratio of 57.20, a P/E/G ratio of 6.87 and a beta of 1.11. ANSYS, Inc. has a twelve month low of $258.01 and a twelve month high of $364.31. The company’s 50-day moving average price is $320.18 and its 200-day moving average price is $321.48. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling at ANSYS

In other news, Director Glenda Dorchak sold 152 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $313.61, for a total value of $47,668.72. Following the completion of the sale, the director now directly owns 3,630 shares in the company, valued at $1,138,404.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by 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.