Frank Rimerman Advisors LLC Makes New $521,000 Investment in ANSYS, Inc. (NASDAQ:ANSS)

Frank Rimerman Advisors LLC bought a new stake in shares of ANSYS, Inc. (NASDAQ:ANSS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,619 shares of the software maker’s stock, valued at approximately $521,000.

A number of other hedge funds have also recently modified their holdings of the business. Jump Financial LLC bought a new stake in shares of ANSYS during the fourth quarter worth $257,000. Corient Private Wealth LLC lifted its holdings in ANSYS by 28.3% during the 4th quarter. Corient Private Wealth LLC now owns 20,727 shares of the software maker’s stock valued at $7,521,000 after buying an additional 4,567 shares in the last quarter. Quest Partners LLC bought a new stake in ANSYS during the 4th quarter valued at about $29,000. Assetmark Inc. boosted its position in ANSYS by 6.1% in the 4th quarter. Assetmark Inc. now owns 2,623 shares of the software maker’s stock valued at $952,000 after buying an additional 150 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in ANSYS by 4.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 24,846 shares of the software maker’s stock worth $9,016,000 after acquiring an additional 949 shares in the last quarter. Institutional investors own 92.39% of the company’s stock.

ANSYS Price Performance

Shares of ANSS stock opened at $321.27 on Tuesday. The stock’s 50-day moving average is $315.60 and its 200 day moving average is $324.89. ANSYS, Inc. has a 1-year low of $258.01 and a 1-year high of $364.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.95 and a quick ratio of 2.95. The company has a market cap of $28.05 billion, a P/E ratio of 64.51, a PEG ratio of 6.80 and a beta of 1.12.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $2.50 earnings per share for the quarter, beating 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 business had revenue of $594.14 million for the quarter, compared to analysts’ expectations of $550.30 million. During the same period last year, the business earned $1.06 EPS. The company’s revenue was up 19.6% compared to the same quarter last year. Research analysts predict that ANSYS, Inc. will post 7.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 159 shares of the stock in a transaction 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 owns 3,782 shares in the company, valued at approximately $1,251,123.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

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

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.