Quest Partners LLC Sells 1,572 Shares of ANSYS, Inc. (NASDAQ:ANSS)

Quest Partners LLC reduced its position in ANSYS, Inc. (NASDAQ:ANSS) by 72.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 585 shares of the software maker’s stock after selling 1,572 shares during the quarter. Quest Partners LLC’s holdings in ANSYS were worth $188,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Treasurer of the State of North Carolina lifted its holdings in shares of ANSYS by 11.1% during the 4th quarter. Treasurer of the State of North Carolina now owns 50,703 shares of the software maker’s stock worth $18,399,000 after acquiring an additional 5,055 shares during the period. Evoke Wealth LLC bought a new position in ANSYS during the fourth quarter worth about $3,032,000. Sei Investments Co. boosted its holdings in ANSYS by 18.6% during the fourth quarter. Sei Investments Co. now owns 423,106 shares of the software maker’s stock valued at $153,537,000 after purchasing an additional 66,338 shares in the last quarter. Thematics Asset Management raised its holdings in shares of ANSYS by 25.0% in the 4th quarter. Thematics Asset Management now owns 90,898 shares of the software maker’s stock worth $32,985,000 after buying an additional 18,173 shares in the last quarter. Finally, Icon Wealth Advisors LLC acquired a new position in shares of ANSYS in the 4th quarter worth approximately $982,000. Institutional investors and hedge funds own 92.39% of the company’s stock.

Analyst Ratings Changes

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

ANSYS Stock Performance

Shares of ANSYS stock opened at $318.51 on Monday. 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 firm has a 50 day simple moving average of $316.75 and a 200 day simple moving average of $325.63. ANSYS, Inc. has a fifty-two week low of $258.01 and a fifty-two week high of $364.31. The firm has a market cap of $27.81 billion, a P/E ratio of 63.96, a P/E/G ratio of 6.80 and a beta of 1.12.

ANSYS (NASDAQ:ANSS) last released its earnings results on Wednesday, July 31st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $1.92 by $0.58. ANSYS had a return on equity of 11.51% and a net margin of 21.30%. The company had revenue of $594.14 million during the quarter, compared to analysts’ expectations of $550.30 million. During the same period last year, the firm earned $1.06 EPS. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. Sell-side 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 ANSYS stock in a transaction that occurred on Monday, July 8th. The shares were 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 filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

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.