Newfound Research LLC Invests $74,000 in ANSYS, Inc. (NASDAQ:ANSS)
Newfound Research LLC bought a new position in ANSYS, Inc. (NASDAQ:ANSS) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 218 shares of the software maker’s stock, valued at approximately $74,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC purchased a new position in ANSYS during the 4th quarter valued at about $32,000. Hoover Financial Advisors Inc. purchased a new stake in shares of ANSYS during the fourth quarter worth about $37,000. CX Institutional grew its holdings in shares of ANSYS by 47.8% during the fourth quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $37,000 after buying an additional 33 shares in the last quarter. Sowell Financial Services LLC grew its holdings in shares of ANSYS by 116.3% during the fourth quarter. Sowell Financial Services LLC now owns 106 shares of the software maker’s stock worth $39,000 after buying an additional 57 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of ANSYS during the fourth quarter worth about $39,000. Institutional investors own 89.44% of the company’s stock.
In other news, SVP Shane Emswiler sold 5,549 shares of ANSYS stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $392.69, for a total value of $2,179,036.81. Following the completion of the transaction, the senior vice president now owns 27,746 shares in the company, valued at approximately $10,895,576.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard S. Mahoney sold 3,467 shares of ANSYS stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $369.16, for a total value of $1,279,877.72. Following the completion of the transaction, the senior vice president now owns 37,947 shares of the company’s stock, valued at approximately $14,008,514.52. The disclosure for this sale can be found here. Insiders have sold a total of 19,624 shares of company stock valued at $7,221,645 in the last 90 days. 0.58% of the stock is currently owned by company insiders.
ANSYS (NASDAQ:ANSS) last issued its earnings results on Tuesday, February 23rd. The software maker reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.42. The company had revenue of $627.77 million for the quarter, compared to the consensus estimate of $564.55 million. ANSYS had a return on equity of 12.09% and a net margin of 24.88%. During the same quarter last year, the company earned $2.24 EPS. As a group, analysts predict that ANSYS, Inc. will post 4.95 EPS for the current year.
ANSS has been the subject of a number of recent research reports. Credit Suisse Group lowered their price target on shares of ANSYS from $413.00 to $392.00 and set an “outperform” rating for the company in a report on Thursday, March 4th. Zacks Investment Research raised shares of ANSYS from a “sell” rating to a “hold” rating and set a $392.00 target price on the stock in a research report on Wednesday, April 28th. Bank of America initiated coverage on shares of ANSYS in a research report on Monday, April 19th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Royal Bank of Canada reduced their price target on shares of ANSYS from $400.00 to $380.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $310.56.
ANSYS, Inc develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which its engineering simulation technologies are built; multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; high-performance computing product suite, which delivers cross-physics parallel processing capabilities for simulation software; and structural analysis product suite that provides simulation tools for product design and optimization.
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