ANSYS (NASDAQ:ANSS) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of ANSYS (NASDAQ:ANSS) from a buy rating to a hold rating in a report issued on Monday.

Separately, Robert W. Baird raised their price objective on ANSYS from $350.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One equities research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $342.50.

ANSYS Price Performance

ANSS stock opened at $338.65 on Monday. ANSYS has a 1 year low of $289.82 and a 1 year high of $363.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.11 and a quick ratio of 3.11. The stock has a market cap of $29.61 billion, a price-to-earnings ratio of 52.26, a P/E/G ratio of 3.89 and a beta of 1.11. The company has a 50 day simple moving average of $340.79 and a 200 day simple moving average of $326.98.

Hedge Funds Weigh In On ANSYS

A number of hedge funds have recently modified their holdings of the business. Redwood Wealth Management Group LLC acquired a new stake in ANSYS in the second quarter valued at $32,000. Bangor Savings Bank lifted its stake in shares of ANSYS by 32.7% in the 3rd quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock valued at $44,000 after purchasing an additional 34 shares during the period. DiNuzzo Private Wealth Inc. boosted its position in shares of ANSYS by 2,833.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock valued at $56,000 after purchasing an additional 170 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in ANSYS during the second quarter worth approximately $64,000. Finally, Intact Investment Management Inc. bought a new stake in ANSYS in the third quarter worth approximately $70,000. Institutional investors and hedge funds own 92.39% of the company’s stock.

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.