ANSYS, Inc. (NASDAQ:ANSS) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in ANSYS, Inc. (NASDAQ:ANSS) by 2.2% during the third quarter, Holdings Channel.com reports. The firm owned 48,661 shares of the software maker’s stock after selling 1,075 shares during the period. PNC Financial Services Group Inc.’s holdings in ANSYS were worth $15,505,000 as of its most recent SEC filing.

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

ANSYS Stock Performance

Shares of ANSYS stock opened at $349.62 on Friday. The firm’s fifty day simple moving average is $327.20 and its 200-day simple moving average is $322.97. ANSYS, Inc. has a 12 month low of $275.81 and a 12 month high of $364.31. The stock has a market capitalization of $30.57 billion, a price-to-earnings ratio of 53.95, a PEG ratio of 3.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.11 and a quick ratio of 3.11.

Insider Buying and Selling at ANSYS

In other ANSYS news, Director Glenda Dorchak sold 152 shares of ANSYS stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $313.61, for a total value of $47,668.72. Following the transaction, the director now directly owns 3,630 shares in the company, valued at approximately $1,138,404.30. This trade represents a 4.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ANSS. Rosenblatt Securities cut their price objective 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. StockNews.com lowered shares of ANSYS from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Robert W. Baird upped their price objective on shares of ANSYS from $350.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, ANSYS presently has an average rating of “Hold” and a consensus price target of $342.50.

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.