Needham & Company LLC Reiterates “Buy” Rating for ANSYS (NASDAQ:ANSS)

ANSYS (NASDAQ:ANSS)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report issued on Thursday, AnalystRatings.com reports. They presently have a $220.00 price objective on the software maker’s stock. Needham & Company LLC’s price objective would suggest a potential downside of 1.92% from the company’s previous close.

Several other brokerages have also issued reports on ANSS. Guggenheim restated a “buy” rating on shares of ANSYS in a research report on Wednesday, September 4th. BidaskClub lowered ANSYS from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Griffin Securities upgraded ANSYS from a “neutral” rating to a “buy” rating and set a $240.00 price target for the company in a report on Friday, September 13th. Wedbush boosted their price target on ANSYS from $232.00 to $254.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Finally, Evercore ISI set a $186.00 price target on ANSYS and gave the company a “hold” rating in a report on Sunday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $223.60.

Shares of ANSYS stock traded down $0.91 during trading hours on Thursday, hitting $224.31. The company’s stock had a trading volume of 597,400 shares, compared to its average volume of 430,605. ANSYS has a 12-month low of $136.80 and a 12-month high of $229.20. The business has a 50 day moving average price of $220.17 and a two-hundred day moving average price of $205.93. The company has a market cap of $18.33 billion, a PE ratio of 43.05 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.24 and a current ratio of 2.24.

ANSYS (NASDAQ:ANSS) last announced its earnings results on Wednesday, November 6th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.42. ANSYS had a return on equity of 17.17% and a net margin of 31.53%. The business had revenue of $343.90 million during the quarter, compared to analyst estimates of $334.40 million. During the same quarter in the previous year, the business earned $1.31 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, research analysts anticipate that ANSYS will post 5.2 earnings per share for the current year.

In other ANSYS news, VP Janet Lee sold 1,174 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $215.26, for a total transaction of $252,715.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.11% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. MUFG Americas Holdings Corp increased its position in shares of ANSYS by 1.4% during the third quarter. MUFG Americas Holdings Corp now owns 7,775 shares of the software maker’s stock worth $1,722,000 after purchasing an additional 109 shares in the last quarter. First Allied Advisory Services Inc. acquired a new position in shares of ANSYS during the third quarter worth $283,000. Cetera Advisor Networks LLC increased its position in shares of ANSYS by 48.6% during the third quarter. Cetera Advisor Networks LLC now owns 2,628 shares of the software maker’s stock worth $581,000 after purchasing an additional 860 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of ANSYS by 3.9% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 15,224 shares of the software maker’s stock worth $3,370,000 after purchasing an additional 575 shares in the last quarter. Finally, AE Wealth Management LLC acquired a new position in shares of ANSYS during the third quarter worth $359,000. Institutional investors own 94.01% of the company’s stock.

About ANSYS

ANSYS, Inc develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which the company's engineering simulation technologies are built; ANSYS multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; and structural analysis product suite that provides simulation tools for product design and optimization.

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Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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