ANSYS (ANSS) Upgraded by ValuEngine to Buy

ANSYS (NASDAQ:ANSS) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other research firms also recently commented on ANSS. Royal Bank of Canada raised their target price on shares of ANSYS to $180.00 and gave the company a “market perform” rating in a research report on Monday, August 6th. Citigroup reissued an “overweight” rating on shares of ANSYS in a research report on Tuesday, August 14th. William Blair initiated coverage on shares of ANSYS in a research report on Tuesday, October 9th. They set a “market perform” rating on the stock. BidaskClub downgraded shares of ANSYS from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, Wedbush reissued a “neutral” rating and set a $168.00 target price (down previously from $180.00) on shares of ANSYS in a research report on Thursday, September 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $175.00.

Shares of ANSS opened at $155.28 on Friday. ANSYS has a 1-year low of $140.78 and a 1-year high of $190.45. The stock has a market cap of $13.09 billion, a P/E ratio of 37.87 and a beta of 1.29.

In other news, Director Barbara Vaughn Scherer sold 2,454 shares of ANSYS stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $187.99, for a total value of $461,327.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Shane Emswiler sold 3,511 shares of ANSYS stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $187.19, for a total transaction of $657,224.09. The disclosure for this sale can be found here. Insiders have sold a total of 49,350 shares of company stock worth $8,631,756 in the last three months. Insiders own 1.10% of the company’s stock.

Several institutional investors have recently modified their holdings of ANSS. Bartlett & Co. LLC purchased a new position in shares of ANSYS in the 3rd quarter worth approximately $114,000. Fort L.P. purchased a new position in shares of ANSYS in the 2nd quarter worth approximately $121,000. Piedmont Investment Advisors LLC purchased a new position in shares of ANSYS in the 2nd quarter worth approximately $166,000. Steward Partners Investment Advisory LLC grew its position in shares of ANSYS by 338.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,040 shares of the software maker’s stock worth $181,000 after buying an additional 803 shares during the last quarter. Finally, Emerald Advisers Inc. PA purchased a new position in shares of ANSYS in the 3rd quarter worth approximately $201,000. 94.41% of the stock is currently owned by hedge funds and other institutional investors.

About ANSYS

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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