Bardin Hill Management Partners LP Invests $3.52 Million in ANSYS, Inc. (NASDAQ:ANSS)

Bardin Hill Management Partners LP bought a new position in shares of ANSYS, Inc. (NASDAQ:ANSS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,960 shares of the software maker’s stock, valued at approximately $3,524,000. ANSYS comprises about 1.4% of Bardin Hill Management Partners LP’s holdings, making the stock its 13th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. DT Investment Partners LLC boosted its holdings in shares of ANSYS by 888.9% during the 2nd quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock worth $29,000 after buying an additional 80 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of ANSYS during the 2nd quarter valued at $32,000. Rothschild Investment LLC bought a new position in ANSYS during the second quarter worth $38,000. Core Wealth Advisors Inc. acquired a new stake in ANSYS in the fourth quarter worth $40,000. Finally, Janiczek Wealth Management LLC increased its stake in ANSYS by 39.1% in the first quarter. Janiczek Wealth Management LLC now owns 153 shares of the software maker’s stock valued at $53,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.

Insiders Place Their Bets

In related news, Director Glenda Dorchak sold 159 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $330.81, for a total transaction of $52,598.79. Following the completion of the sale, the director now directly owns 3,782 shares of the company’s stock, valued at $1,251,123.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

ANSYS Stock Performance

Shares of ANSS opened at $313.05 on Wednesday. The firm has a market capitalization of $27.33 billion, a P/E ratio of 62.86, a P/E/G ratio of 6.89 and a beta of 1.12. ANSYS, Inc. has a 52 week low of $258.01 and a 52 week high of $364.31. The stock has a 50 day moving average price of $315.71 and a two-hundred day moving average price of $324.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.95 and a current ratio of 2.95.

ANSYS (NASDAQ:ANSS) last announced its earnings results on Wednesday, July 31st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $1.92 by $0.58. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The company had revenue of $594.14 million during the quarter, compared to the consensus estimate of $550.30 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. Equities analysts forecast that ANSYS, Inc. will post 7.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com began coverage on shares of ANSYS in a research report on Sunday, September 22nd. They set a “hold” rating on the stock. KeyCorp began coverage on ANSYS in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Finally, Rosenblatt Securities decreased their price objective on ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $318.33.

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.