ANSYS, Inc. (ANSS) Trading Down 5.7% Following Analyst Downgrade

Shares of ANSYS, Inc. (NASDAQ:ANSS) dropped 5.7% during trading on Friday after Barclays PLC lowered their price target on the stock from $115.00 to $113.00. Barclays PLC currently has an underweight rating on the stock. ANSYS traded as low as $120.79 and last traded at $121.82. Approximately 1,769,615 shares changed hands during mid-day trading, an increase of 142% from the average daily volume of 730,364 shares. The stock had previously closed at $129.15.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of ANSYS from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub downgraded shares of ANSYS from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of ANSYS in a research report on Monday, July 17th. They set a “neutral” rating and a $112.00 price objective for the company. Robert W. Baird set a $130.00 price objective on shares of ANSYS and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, Wedbush restated a “neutral” rating and set a $129.19 price objective (up previously from $114.00) on shares of ANSYS in a research report on Friday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $115.22.

Several large investors have recently bought and sold shares of the company. 1st Global Advisors Inc. grew its stake in shares of ANSYS by 0.8% during the 2nd quarter. 1st Global Advisors Inc. now owns 2,364 shares of the software maker’s stock worth $288,000 after purchasing an additional 18 shares during the period. Gofen & Glossberg LLC IL grew its stake in shares of ANSYS by 1.6% during the 1st quarter. Gofen & Glossberg LLC IL now owns 2,535 shares of the software maker’s stock worth $271,000 after purchasing an additional 40 shares during the period. Pacer Advisors Inc. grew its stake in shares of ANSYS by 2.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,539 shares of the software maker’s stock worth $164,000 after purchasing an additional 44 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in shares of ANSYS by 7.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 995 shares of the software maker’s stock worth $121,000 after purchasing an additional 69 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of ANSYS by 0.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,105 shares of the software maker’s stock worth $1,230,000 after purchasing an additional 77 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

The firm has a 50-day moving average price of $127.10 and a 200-day moving average price of $119.07. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 39.15 and a beta of 1.07.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.99 EPS for the quarter, topping the consensus estimate of $0.92 by $0.07. ANSYS had a net margin of 26.37% and a return on equity of 13.87%. The firm had revenue of $264.30 million for the quarter, compared to analysts’ expectations of $259.75 million. During the same period in the previous year, the business earned $0.93 earnings per share. ANSYS’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts predict that ANSYS, Inc. will post $3.86 earnings per share for the current year.

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About ANSYS

ANSYS, Inc (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.

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