ANSYS (NASDAQ:ANSS) had its target price raised by Wedbush from $163.00 to $168.00 in a report issued on Thursday morning, The Fly reports. The brokerage currently has a neutral rating on the software maker’s stock.

A number of other analysts also recently weighed in on the stock. Goldman Sachs Group raised shares of ANSYS from a neutral rating to a buy rating and set a $112.00 price target for the company in a report on Wednesday, June 20th. Zacks Investment Research raised shares of ANSYS from a hold rating to a buy rating and set a $183.00 price target for the company in a report on Monday, May 28th. Royal Bank of Canada increased their price target on shares of ANSYS to $180.00 and gave the company a market perform rating in a report on Monday, August 6th. UBS Group raised shares of ANSYS from a neutral rating to an overweight rating in a report on Thursday, May 3rd. Finally, BidaskClub downgraded shares of ANSYS from a strong-buy rating to a buy rating in a report on Monday, June 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $165.45.

Shares of ANSYS opened at $171.53 on Thursday, MarketBeat.com reports. ANSYS has a fifty-two week low of $119.20 and a fifty-two week high of $184.95. The firm has a market capitalization of $14.46 billion, a price-to-earnings ratio of 47.52 and a beta of 0.96.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Monday, August 6th. The software maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. ANSYS had a net margin of 25.98% and a return on equity of 14.95%. The firm had revenue of $308.90 million during the quarter, compared to the consensus estimate of $288.26 million. During the same period in the prior year, the firm earned $0.99 EPS. The business’s revenue was up 16.9% on a year-over-year basis. equities research analysts predict that ANSYS will post 4.4 earnings per share for the current year.

In related news, Director Michael Thurk sold 3,500 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $170.19, for a total transaction of $595,665.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ajei Gopal sold 3,711 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $165.30, for a total transaction of $613,428.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,465 shares of company stock valued at $7,801,088. Corporate insiders own 1.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Profund Advisors LLC increased its position in shares of ANSYS by 13.4% during the 1st quarter. Profund Advisors LLC now owns 3,016 shares of the software maker’s stock worth $473,000 after purchasing an additional 357 shares in the last quarter. Cue Financial Group Inc. increased its position in shares of ANSYS by 2.7% during the 2nd quarter. Cue Financial Group Inc. now owns 13,797 shares of the software maker’s stock worth $2,403,000 after purchasing an additional 365 shares in the last quarter. Progressive Investment Management Corp increased its position in shares of ANSYS by 1.4% during the 1st quarter. Progressive Investment Management Corp now owns 28,776 shares of the software maker’s stock worth $4,509,000 after purchasing an additional 387 shares in the last quarter. Comerica Bank increased its position in shares of ANSYS by 1.2% during the 2nd quarter. Comerica Bank now owns 33,939 shares of the software maker’s stock worth $6,131,000 after purchasing an additional 406 shares in the last quarter. Finally, BB&T Corp increased its position in shares of ANSYS by 2.2% during the 2nd quarter. BB&T Corp now owns 18,904 shares of the software maker’s stock worth $3,293,000 after purchasing an additional 413 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

ANSYS Company Profile

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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Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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