Congress Asset Management Co. MA Reduces Stock Holdings in ANSYS, Inc. (NASDAQ:ANSS)

Congress Asset Management Co. MA reduced its holdings in ANSYS, Inc. (NASDAQ:ANSS) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,488 shares of the software maker’s stock after selling 329 shares during the period. Congress Asset Management Co. MA’s holdings in ANSYS were worth $1,558,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ANSS. CVA Family Office LLC purchased a new stake in ANSYS during the fourth quarter worth $28,000. Quest Partners LLC purchased a new stake in ANSYS during the fourth quarter worth $29,000. DSM Capital Partners LLC purchased a new stake in ANSYS during the fourth quarter worth $34,000. Raleigh Capital Management Inc. boosted its holdings in ANSYS by 135.7% during the third quarter. Raleigh Capital Management Inc. now owns 99 shares of the software maker’s stock worth $29,000 after buying an additional 57 shares in the last quarter. Finally, Core Wealth Advisors Inc. purchased a new stake in ANSYS during the fourth quarter worth $40,000. 92.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of ANSYS in a report on Tuesday, June 18th. They set a “hold” rating on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $345.00 price target on shares of ANSYS in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $320.00.

ANSYS Stock Performance

ANSS opened at $325.35 on Friday. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.14. The company has a market cap of $28.40 billion, a price-to-earnings ratio of 65.33, a PEG ratio of 7.14 and a beta of 1.14. ANSYS, Inc. has a 52-week low of $258.01 and a 52-week high of $364.31. The firm’s fifty day simple moving average is $325.27 and its two-hundred day simple moving average is $331.53.

ANSYS (NASDAQ:ANSS) last issued its earnings results on Wednesday, May 1st. The software maker reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.54). The business had revenue of $466.60 million during the quarter, compared to analyst estimates of $549.85 million. ANSYS had a net margin of 19.51% and a return on equity of 10.45%. ANSYS’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.45 earnings per share. Equities analysts anticipate that ANSYS, Inc. will post 7.16 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Glenda Dorchak sold 150 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $342.08, for a total value of $51,312.00. Following the completion of the sale, the director now directly owns 3,049 shares in the company, valued at $1,043,001.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

ANSYS Company Profile

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.