ANSYS (NASDAQ:ANSS) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of ANSYS (NASDAQ:ANSS) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other equities research analysts also recently issued reports on ANSS. Rosenblatt Securities dropped their price target on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Robert W. Baird boosted their price target on ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $342.50.

ANSYS Stock Down 2.3 %

Shares of NASDAQ:ANSS opened at $332.38 on Thursday. The company has a market capitalization of $29.07 billion, a price-to-earnings ratio of 51.29, a price-to-earnings-growth ratio of 3.76 and a beta of 1.11. The company has a 50 day moving average of $324.95 and a two-hundred day moving average of $322.36. ANSYS has a 52-week low of $275.81 and a 52-week high of $364.31. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.13.

Insider Activity

In other ANSYS news, Director Glenda Dorchak sold 152 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $313.61, for a total transaction of $47,668.72. Following the completion of the sale, the director now owns 3,630 shares in the company, valued at $1,138,404.30. The trade was a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On ANSYS

Institutional investors have recently made changes to their positions in the stock. DT Investment Partners LLC boosted its holdings in shares of ANSYS by 888.9% during the second quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock valued at $29,000 after acquiring an additional 80 shares during the period. Redwood Wealth Management Group LLC acquired a new position in ANSYS during the 2nd quarter worth $32,000. Rothschild Investment LLC acquired a new position in shares of ANSYS during the second quarter valued at $38,000. Bangor Savings Bank lifted its holdings in ANSYS by 32.7% in the third quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock worth $44,000 after purchasing an additional 34 shares during the period. Finally, DiNuzzo Private Wealth Inc. increased its stake in ANSYS by 2,833.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock valued at $56,000 after buying an additional 170 shares during the period. 92.39% of the stock is owned by institutional investors.

About ANSYS

ANSYS, Inc develops and markets engineering simulation software and services for engineers, designers, researchers, and students in the United States, Japan, Germany, China, Hong Kong, South Korea, rest of Europe, the Middle East, Africa, and internationally. It offers structural analysis product suite that provides simulation tools for product design and optimization; the Ansys Mechanical product, an element analysis software; LS-DYNA solver for multiphysics simulation; and power analysis and optimization software suite.