Short Interest in ANSYS, Inc. (NASDAQ:ANSS) Declines By 10.7%

ANSYS, Inc. (NASDAQ:ANSS) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 1,340,000 shares, a decrease of 10.7% from the September 30th total of 1,500,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 378,800 shares, the days-to-cover ratio is currently 3.5 days.

Insiders Place Their Bets

In related news, Director Glenda Dorchak sold 152 shares of the 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 transaction, the director now owns 3,630 shares of the company’s stock, valued at approximately $1,138,404.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by insiders.

Institutional Trading of ANSYS

A number of hedge funds have recently made changes to their positions in the stock. Swedbank AB purchased a new position in ANSYS during the first quarter valued at $128,089,000. M&G Plc bought a new position in shares of ANSYS during the first quarter valued at $115,922,000. Magnetar Financial LLC purchased a new position in shares of ANSYS in the 1st quarter worth about $72,797,000. Matrix Capital Management Company LP bought a new position in ANSYS in the 1st quarter worth about $50,338,000. Finally, Canada Pension Plan Investment Board grew its position in ANSYS by 1,052.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 99,263 shares of the software maker’s stock valued at $34,460,000 after purchasing an additional 90,653 shares during the last quarter. 92.39% of the stock is owned by institutional investors.

ANSYS Trading Down 0.5 %

NASDAQ ANSS opened at $321.17 on Tuesday. The firm has a market capitalization of $28.04 billion, a PE ratio of 64.49, a P/E/G ratio of 6.99 and a beta of 1.11. The stock’s 50 day moving average is $320.27 and its 200 day moving average is $321.58. ANSYS has a twelve month low of $258.01 and a twelve month high of $364.31. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.13.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com began coverage on ANSYS in a research note on Sunday, September 22nd. They set a “hold” rating for the company. Rosenblatt Securities cut their price target on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.