ANSYS, Inc. (ANSS) Rating Reiterated by Needham & Company LLC

ANSYS, Inc. (NASDAQ:ANSS)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Friday.

ANSS has been the subject of several other reports. Zacks Investment Research upgraded shares of ANSYS from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a research note on Tuesday, October 3rd. Evercore ISI reiterated a “hold” rating and issued a $113.00 price target on shares of ANSYS in a research note on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) started coverage on shares of ANSYS in a research note on Monday, July 17th. They issued a “neutral” rating and a $112.00 price target for the company. J P Morgan Chase & Co reiterated a “sell” rating and issued a $98.00 price target on shares of ANSYS in a research note on Tuesday, September 19th. Finally, KeyCorp reiterated a “hold” rating on shares of ANSYS in a research note on Friday, September 29th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. ANSYS has a consensus rating of “Hold” and an average price target of $126.18.

Shares of ANSYS (ANSS) traded up $0.42 during trading on Friday, hitting $149.10. 747,257 shares of the company traded hands, compared to its average volume of 416,449. The company has a market capitalization of $12,652.63, a P/E ratio of 42.60 and a beta of 1.05.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Wednesday, November 1st. The software maker reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.10. The company had revenue of $276.77 million during the quarter, compared to analyst estimates of $263.77 million. ANSYS had a net margin of 26.01% and a return on equity of 13.67%. ANSYS’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. analysts anticipate that ANSYS will post 3.7 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in ANSS. Vanguard Group Inc. increased its stake in ANSYS by 21.8% during the 2nd quarter. Vanguard Group Inc. now owns 8,496,114 shares of the software maker’s stock valued at $1,033,807,000 after purchasing an additional 1,520,201 shares in the last quarter. Koch Industries Inc. bought a new stake in ANSYS during the 2nd quarter valued at about $971,000. State Street Corp increased its stake in ANSYS by 20.9% during the 2nd quarter. State Street Corp now owns 3,512,429 shares of the software maker’s stock valued at $427,401,000 after purchasing an additional 607,765 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in ANSYS by 19.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 994,793 shares of the software maker’s stock valued at $121,046,000 after purchasing an additional 165,174 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in ANSYS during the 2nd quarter valued at about $16,881,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

About ANSYS

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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