ANSYS, Inc. (NASDAQ:ANSS) Sees Large Decrease in Short Interest

ANSYS, Inc. (NASDAQ:ANSS) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,330,000 shares, a decline of 5.7% from the October 31st total of 1,410,000 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 427,300 shares, the short-interest ratio is presently 3.1 days.

ANSYS Price Performance

Shares of ANSYS stock opened at $350.51 on Tuesday. The stock’s 50-day simple moving average is $331.57 and its 200-day simple moving average is $324.07. ANSYS has a 52 week low of $275.81 and a 52 week high of $364.31. The company has a market capitalization of $30.65 billion, a price-to-earnings ratio of 54.09, a PEG ratio of 3.98 and a beta of 1.11. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.13.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ANSS shares. Robert W. Baird lifted their target price on ANSYS from $350.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com downgraded ANSYS from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Rosenblatt Securities lowered their price objective on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $342.50.

Insider Buying and Selling

In related news, Director Glenda Dorchak sold 152 shares of ANSYS stock in a transaction on Monday, October 7th. The stock was sold at an average price of $313.61, for a total transaction 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. 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 accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ANSYS

A number of hedge funds have recently made changes to their positions in the company. Tidal Investments LLC lifted its position in shares of ANSYS by 5.0% in the third quarter. Tidal Investments LLC now owns 10,841 shares of the software maker’s stock worth $3,454,000 after buying an additional 520 shares in the last quarter. Destination Wealth Management increased its stake in ANSYS by 1.7% during the third quarter. Destination Wealth Management now owns 69,296 shares of the software maker’s stock worth $22,080,000 after acquiring an additional 1,147 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in ANSYS during the third quarter worth approximately $174,000. M&T Bank Corp increased its stake in ANSYS by 1.0% during the third quarter. M&T Bank Corp now owns 30,118 shares of the software maker’s stock worth $9,597,000 after acquiring an additional 312 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in ANSYS by 11.7% during the third quarter. Rehmann Capital Advisory Group now owns 1,038 shares of the software maker’s stock worth $332,000 after acquiring an additional 109 shares during the last quarter. 92.39% of the stock is currently owned by hedge funds and other 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.