ANSYS (NASDAQ:ANSS) Sets New 1-Year Low After Analysts Downgrade

ANSYS, Inc. (NASDAQ: ANSS – Get a rating) hit a new 52-week low in trading on Monday after Credit Suisse Group lowered its price target on the stock from $339.00 to $320.00. The company traded as low as $229.39 and last traded at $231.89, with volume at 7072 shares. The stock had previously closed at $241.87.

Other research analysts have also released reports on the stock. StockNews.com began covering ANSYS shares in a research note on Thursday, March 31. They set a “hold” rating for the company. TheStreet downgraded ANSYS shares from a “b-” rating to a “c” rating in a Wednesday May 4 research note. Barclays cut its price target on ANSYS from $305.00 to $260.00 in a Friday, February 25 report. Rosenblatt Securities lowered its price target on ANSYS from $400.00 to $360.00 and set a “neutral” rating for the company in a Friday, February 25 report. Finally, the Royal Bank of Canada reduced its price target on ANSYS from $350.00 to $315.00 in a Friday, May 6 report. Two analysts have assigned the stock a sell rating, seven have assigned a hold rating and two have assigned the stock a buy rating. According to data from MarketBeat, ANSYS has an average rating of “Hold” and a consensus price target of $301.60.

In other ANSYS news, Director Glenda Dorchak sold 800 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $256.18, for a total value of $204,944.00. Following completion of the transaction, the administrator now directly owns 4,041 shares of the company, valued at $1,035,223.38. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Insiders own 0.54% of the shares of the company.

A number of institutional investors have recently changed their positions in ANSS. BlackRock Inc. increased its equity stake in ANSYS by 13.2% during the first quarter. BlackRock Inc. now owns 8,661,643 shares of the software maker valued at $2,751,371,000 after acquiring an additional 1,009,148 shares last quarter. Norges Bank acquired a new stock position in ANSYS during the fourth quarter worth approximately $255,302,000. Liontrust Investment Partners LLP acquired a new position in ANSYS stock during the third quarter worth approximately $138,461,000. Select Equity Group LP increased its equity stake in ANSYS by 371.6% during the first quarter. Select Equity Group LP now owns 491,364 shares of the software maker valued at $156,082,000 after acquiring an additional 387,174 shares last quarter. Finally, Ninety One UK Ltd increased its stake in ANSYS shares by 41.1% during the first quarter. Ninety One UK Ltd now owns 689,655 shares of the software maker valued at $219,069,000 after acquiring an additional 200,871 shares last quarter. Institutional investors and hedge funds own 89.93% of the company’s shares.

The stock has a 50-day moving average of $270.62 and a 200-day moving average of $319.83. The stock has a market capitalization of $20.18 billion, a PE ratio of 47.06, a price-to-earnings growth ratio of 3.35 and a beta of 1.28. The company has a quick ratio of 2.28, a current ratio of 2.28 and a leverage ratio of 0.17.

ANSYS (NASDAQ:ANSS – Get a rating) last reported results on Wednesday, May 4. The software maker reported EPS of $1.02 for the quarter, beating consensus analyst estimates of $0.70 by $0.32. The company posted revenue of $428.64 million for the quarter, versus analyst estimates of $409.26 million. ANSYS achieved a return on equity of 12.14% and a net margin of 23.02%. ANSYS revenue for the quarter increased 15.2% year-over-year. In the same quarter of the previous year, the company had earned earnings per share of $0.81. On average, stock analysts expect ANSYS, Inc. to post EPS of 6.27 for the current year.

About ANSYS (NASDAQ:ANSS)

ANSYS, Inc develops and markets engineering simulation software and services worldwide. It offers ANSYS Workbench, a framework on which its multiphysics engineering simulation technologies are built and allows engineers to simulate the interactions between structures, heat transfer, fluids, electronics and optics in a unified engineering simulation; suite of high performance computing products; power analysis and optimization software suite that manages power budget, power distribution integrity, and power-induced noise in an electronic design; and a structural analysis product suite that provides simulation tools for product design and optimization.

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