Zacks Investment Research Upgrades ANSYS, Inc. (NASDAQ:ANSS) to “Hold”

ANSYS, Inc. (NASDAQ:ANSS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday, August 7th.

According to Zacks, “ANSYS reported better-than-expected second-quarter 2017 results which also marked year-over-year improvement. An upbeat 2017 outlook was also encouraging. ANSYS is a dominant player in the high-end design simulation software market. Notably, ANSYS has outperformed the industry in the last one year. We believe that robust product portfolio, expanding total addressable market (due to rising complexity in manufacturing IoT related products), improving enterprise penetration, collaborations with leading vendors and strong balance sheet will aid the stock to sustain momentum. Further, the ongoing restructuring and investments on product development along with sales execution are positives, in our view. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe and adverse foreign currency exchange rates are other major concerns.”

A number of other research firms also recently issued reports on ANSS. BidaskClub upgraded shares of ANSYS from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) began coverage on shares of ANSYS in a research report on Monday, July 17th. They issued a “neutral” rating and a $112.00 target price for the company. Evercore ISI set a $113.00 target price on shares of ANSYS and gave the stock a “hold” rating in a research report on Saturday, June 10th. Barclays PLC reiterated an “underweight” rating and issued a $115.00 target price (up previously from $96.00) on shares of ANSYS in a research report on Friday, May 5th. Finally, Mitsubishi UFJ Financial Group downgraded shares of ANSYS from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $112.00 to $114.00 in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. ANSYS presently has an average rating of “Hold” and a consensus target price of $105.75.

ANSYS (ANSS) traded up 0.07% during midday trading on Monday, hitting $125.61. 283,979 shares of the stock were exchanged. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 40.36 and a beta of 1.10. The firm’s 50-day moving average is $125.11 and its 200 day moving average is $115.03. ANSYS has a 52 week low of $82.28 and a 52 week high of $131.63.

ANSYS (NASDAQ:ANSS) last released its earnings results on Wednesday, August 2nd. The software maker reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. ANSYS had a net margin of 26.37% and a return on equity of 13.87%. The company had revenue of $264.30 million during the quarter, compared to the consensus estimate of $259.75 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts expect that ANSYS will post $3.86 EPS for the current fiscal year.

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In other ANSYS news, Director Michael Thurk sold 4,800 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $123.95, for a total value of $594,960.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Patrick J. Zilvitis sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $124.00, for a total transaction of $248,000.00. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ANSS. Creative Planning raised its stake in ANSYS by 68.6% in the second quarter. Creative Planning now owns 875 shares of the software maker’s stock valued at $106,000 after buying an additional 356 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in ANSYS by 7.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 995 shares of the software maker’s stock valued at $121,000 after buying an additional 69 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in ANSYS during the first quarter valued at about $128,000. Global X Management Co. LLC raised its stake in ANSYS by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,263 shares of the software maker’s stock valued at $135,000 after buying an additional 296 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. bought a new stake in ANSYS during the second quarter valued at about $138,000. Institutional investors own 98.32% of the company’s stock.

ANSYS Company Profile

ANSYS, Inc (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.

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