ANSYS, Inc. (ANSS) Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of ANSYS, Inc. (NASDAQ:ANSS) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “ANSYS is a dominant player in the high-end design simulation software market. Notably, the stock has outperformed the industry on a year-to-date basis. We believe that robust product portfolio, expanding total addressable market (due to rising complexity in manufacturing IoT related products), improving enterprise penetration, collaborations with leading vendors and strong balance sheet will aid the stock to sustain momentum. Further, the ongoing restructuring and investments on product development along with sales execution are positives, in our view. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe and adverse foreign currency exchange rates are other major concerns.”
ANSS has been the subject of several other reports. Evercore ISI restated a hold rating and set a $113.00 price target on shares of ANSYS in a report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) started coverage on ANSYS in a report on Monday, July 17th. They set a neutral rating and a $112.00 price target for the company. J P Morgan Chase & Co restated a sell rating and set a $98.00 price target on shares of ANSYS in a report on Tuesday, September 19th. Barclays PLC reduced their price target on ANSYS from $115.00 to $113.00 and set an underweight rating for the company in a report on Friday, September 15th. Finally, Berenberg Bank started coverage on ANSYS in a report on Wednesday, August 23rd. They set a hold rating and a $123.00 price target for the company. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $116.68.
ANSYS (NASDAQ ANSS) traded up 0.55% during mid-day trading on Wednesday, hitting $125.24. 358,845 shares of the stock traded hands. The firm has a market cap of $10.62 billion, a P/E ratio of 40.24 and a beta of 1.05. ANSYS has a 52-week low of $82.28 and a 52-week high of $132.74. The firm’s 50-day moving average is $125.90 and its 200 day moving average is $120.65.
ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. ANSYS had a return on equity of 13.87% and a net margin of 26.37%. The firm had revenue of $264.30 million during the quarter, compared to the consensus estimate of $259.75 million. During the same period last year, the company earned $0.93 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Equities analysts predict that ANSYS will post $3.87 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANSS. Creative Planning increased its holdings in ANSYS by 68.6% in the 2nd quarter. Creative Planning now owns 875 shares of the software maker’s stock worth $106,000 after buying an additional 356 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of ANSYS by 7.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 995 shares of the software maker’s stock valued at $121,000 after purchasing an additional 69 shares during the period. Global X Management Co. LLC grew its stake in shares of ANSYS by 30.6% during the 1st quarter. Global X Management Co. LLC now owns 1,263 shares of the software maker’s stock valued at $135,000 after purchasing an additional 296 shares during the period. Parallax Volatility Advisers L.P. bought a new stake in shares of ANSYS during the 2nd quarter valued at about $138,000. Finally, Dupont Capital Management Corp bought a new stake in shares of ANSYS during the 2nd quarter valued at about $149,000. Institutional investors own 96.78% of the company’s stock.
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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