Zacks Investment Research downgraded shares of Ansys (NASDAQ:ANSS) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “ANSYS delivered strong results for first-quarter 2018, wherein both the top and bottom lines fared better than the respective Zacks Consensus Estimates. Increasing demand for simulation particularly from industries like energy bodes well for ANSYS. We believe that robust product portfolio, expanding total addressable market improving enterprise penetration, collaborations with leading vendors, and strong balance sheet are the catalysts. Acquisitions like 3DSIM and OPTIS are not only enabling ANSYS to bring innovative solutions to the market but are also aiding it to enhance foothold in the competitive simulations market. However, its margin is expected to remain under pressure as ANSYS continues to invest on product development. Furthermore, adverse foreign currency exchange rates are expected to impede revenue growth in the near term as it generates significant revenues from international market.”
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A number of other analysts have also issued reports on the company. ValuEngine raised Ansys from a hold rating to a buy rating in a report on Thursday, March 1st. BidaskClub lowered Ansys from a strong-buy rating to a buy rating in a report on Saturday, February 24th. Berenberg Bank raised Ansys from a hold rating to a buy rating and set a $123.00 target price on the stock in a report on Tuesday, January 30th. Wedbush reaffirmed a neutral rating and issued a $136.00 target price (down previously from $160.00) on shares of Ansys in a report on Friday, February 23rd. Finally, UBS raised Ansys from a neutral rating to an overweight rating in a report on Thursday, May 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Ansys currently has an average rating of Hold and an average target price of $136.50.
ANSS opened at $164.16 on Monday. The company has a market capitalization of $13.82 billion, a price-to-earnings ratio of 45.47 and a beta of 1.02. Ansys has a 12-month low of $119.20 and a 12-month high of $173.20.
Ansys (NASDAQ:ANSS) last released its earnings results on Wednesday, May 2nd. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.18. The firm had revenue of $285.20 million for the quarter, compared to analyst estimates of $276.56 million. Ansys had a return on equity of 14.51% and a net margin of 24.92%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. equities research analysts forecast that Ansys will post 4.4 earnings per share for the current fiscal year.
Ansys announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 21st that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
In other news, Director James E. Cashman III sold 862 shares of Ansys stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $158.00, for a total transaction of $136,196.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Matthew C. Zack sold 1,222 shares of Ansys stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $162.97, for a total value of $199,149.34. The disclosure for this sale can be found here. Insiders have sold a total of 31,920 shares of company stock worth $5,255,831 in the last three months. 1.10% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in ANSS. Robecosam AG lifted its position in shares of Ansys by 13.6% during the 4th quarter. Robecosam AG now owns 175,983 shares of the software maker’s stock worth $25,984,000 after buying an additional 21,007 shares during the period. OppenheimerFunds Inc. bought a new position in shares of Ansys during the 4th quarter worth approximately $212,000. Mendel Money Management bought a new position in shares of Ansys during the 4th quarter worth approximately $4,827,000. Stephens Investment Management Group LLC lifted its position in shares of Ansys by 0.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 121,491 shares of the software maker’s stock worth $17,931,000 after buying an additional 761 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Ansys by 4.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 87,082 shares of the software maker’s stock worth $12,853,000 after buying an additional 3,989 shares during the period. 94.09% of the stock is currently owned by institutional investors.
ANSYS, Inc develops and markets engineering simulation software and services used by engineers, designers, researchers, and students in the aerospace and defense, automotive, electronics, semiconductors, energy, materials and chemical processing, turbomachinery, consumer products, healthcare, and sports industries and academia worldwide.
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