ANSYS (NASDAQ:ANSS) Given Buy Rating at Needham & Company LLC

ANSYS (NASDAQ:ANSS)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Thursday, November 7th, AnalystRatings.com reports. They presently have a $220.00 price target on the software maker’s stock. Needham & Company LLC’s target price indicates a potential downside of 6.44% from the company’s previous close.

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A number of other brokerages have also recently issued reports on ANSS. Evercore ISI set a $186.00 target price on ANSYS and gave the stock a “hold” rating in a report on Sunday, November 3rd. Wedbush raised their target price on ANSYS from $232.00 to $254.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. ValuEngine cut ANSYS from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut ANSYS from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Monday, October 14th. Finally, Griffin Securities upgraded ANSYS from a “neutral” rating to a “buy” rating and set a $240.00 target price on the stock in a report on Friday, September 13th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $223.60.

ANSS stock traded up $5.78 during midday trading on Thursday, hitting $235.15. The stock had a trading volume of 607,900 shares, compared to its average volume of 442,804. The stock has a 50-day simple moving average of $221.63 and a 200 day simple moving average of $207.03. The firm has a market capitalization of $19.31 billion, a price-to-earnings ratio of 45.13 and a beta of 1.39. ANSYS has a 52 week low of $136.80 and a 52 week high of $235.59. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.03.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings results on Wednesday, November 6th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.42. The business had revenue of $343.90 million for the quarter, compared to analysts’ expectations of $334.40 million. ANSYS had a return on equity of 16.65% and a net margin of 30.35%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. On average, equities analysts forecast that ANSYS will post 5.26 EPS for the current year.

In other news, VP Janet Lee sold 1,174 shares of ANSYS stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $215.26, for a total transaction of $252,715.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Matthew C. Zack sold 1,427 shares of ANSYS stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $230.40, for a total value of $328,780.80. The disclosure for this sale can be found here. Insiders own 1.11% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI lifted its holdings in shares of ANSYS by 64.5% during the 3rd quarter. Citizens Financial Group Inc RI now owns 125 shares of the software maker’s stock valued at $28,000 after purchasing an additional 49 shares in the last quarter. Parallel Advisors LLC raised its position in ANSYS by 146.8% in the 3rd quarter. Parallel Advisors LLC now owns 153 shares of the software maker’s stock valued at $34,000 after buying an additional 91 shares during the last quarter. Motco acquired a new stake in ANSYS in the 2nd quarter valued at approximately $38,000. Ibex Wealth Advisors acquired a new stake in ANSYS in the 2nd quarter valued at approximately $39,000. Finally, CSat Investment Advisory L.P. raised its position in ANSYS by 129.7% in the 2nd quarter. CSat Investment Advisory L.P. now owns 255 shares of the software maker’s stock valued at $52,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.

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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Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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