Kayne Anderson Rudnick Investment Management LLC Reduces Stock Position in ANSYS, Inc. (NASDAQ:ANSS)

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in shares of ANSYS, Inc. (NASDAQ:ANSS) by 98.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,455 shares of the software maker’s stock after selling 684,127 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in ANSYS were worth $3,361,000 at the end of the most recent reporting period.

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

ANSYS Trading Down 0.6 %

NASDAQ:ANSS opened at $320.25 on Monday. ANSYS, Inc. has a 12 month low of $258.01 and a 12 month high of $364.31. The business’s 50-day moving average is $315.72 and its two-hundred day moving average is $325.02. 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 market capitalization of $27.96 billion, a PE ratio of 64.31, a price-to-earnings-growth ratio of 6.80 and a beta of 1.12.

ANSYS (NASDAQ:ANSS) last announced 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. The business had revenue of $594.14 million for the quarter, compared to the consensus estimate of $550.30 million. ANSYS had a return on equity of 11.51% and a net margin of 21.30%. The company’s revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. Research analysts predict that ANSYS, Inc. will post 7.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at ANSYS

In other ANSYS news, Director Glenda Dorchak sold 159 shares of ANSYS stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $330.81, for a total transaction of $52,598.79. Following the sale, the director now directly owns 3,782 shares in the company, valued at approximately $1,251,123.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

ANSYS Company Profile

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.