ANSYS (NASDAQ:ANSS) Price Target Increased to $220.00 by Analysts at Needham & Company LLC

ANSYS (NASDAQ:ANSS) had its target price lifted by Needham & Company LLC from $210.00 to $220.00 in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

Several other equities research analysts have also issued reports on the company. Evercore ISI reaffirmed a hold rating and set a $160.00 target price on shares of ANSYS in a research report on Tuesday, August 6th. BidaskClub raised ANSYS from a hold rating to a buy rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised ANSYS from an underweight rating to a neutral rating and raised their target price for the company from $190.00 to $228.00 in a research report on Wednesday, September 11th. Zacks Investment Research lowered ANSYS from a strong-buy rating to a hold rating and set a $240.00 target price for the company. in a research report on Monday, August 12th. Finally, Benchmark lifted their price objective on ANSYS from $210.00 to $230.00 and gave the stock a buy rating in a report on Wednesday, September 11th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $221.00.

Shares of ANSYS stock opened at $217.59 on Monday. ANSYS has a 1 year low of $136.80 and a 1 year high of $219.86. The firm has a market cap of $17.84 billion, a PE ratio of 41.76 and a beta of 1.40. The stock has a fifty day moving average price of $208.98 and a 200-day moving average price of $196.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.24 and a quick ratio of 2.24.

ANSYS (NASDAQ:ANSS) last announced its earnings results on Monday, August 5th. The software maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.25. ANSYS had a return on equity of 17.17% and a net margin of 31.53%. The firm had revenue of $370.51 million during the quarter, compared to analyst estimates of $338.31 million. During the same period last year, the firm posted $1.35 EPS. The business’s revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts anticipate that ANSYS will post 5.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EP Wealth Advisors LLC increased its holdings in ANSYS by 14.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,314 shares of the software maker’s stock worth $269,000 after acquiring an additional 169 shares during the last quarter. Atria Investments LLC purchased a new stake in ANSYS in the 2nd quarter worth about $4,092,000. Treasurer of the State of North Carolina increased its holdings in ANSYS by 1.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 33,576 shares of the software maker’s stock worth $6,877,000 after acquiring an additional 370 shares during the last quarter. BlackRock Inc. boosted its stake in ANSYS by 2.9% in the 2nd quarter. BlackRock Inc. now owns 6,973,293 shares of the software maker’s stock worth $1,428,269,000 after purchasing an additional 194,230 shares during the period. Finally, Colonial Trust Advisors bought a new position in ANSYS in the 2nd quarter worth about $970,000. 93.64% of the stock is owned by institutional investors.

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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