ANSYS, Inc. (NASDAQ:ANSS) is Connective Capital Management LLC’s 10th Largest Position

Connective Capital Management LLC lowered its stake in ANSYS, Inc. (NASDAQ:ANSS) by 23.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,665 shares of the software maker’s stock after selling 2,658 shares during the period. ANSYS makes up approximately 5.0% of Connective Capital Management LLC’s holdings, making the stock its 10th largest holding. Connective Capital Management LLC’s holdings in ANSYS were worth $2,786,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Swedbank AB bought a new stake in ANSYS in the 1st quarter worth $128,089,000. M&G Plc purchased a new position in ANSYS during the 1st quarter valued at about $115,922,000. Point72 Asset Management L.P. raised its position in ANSYS by 210.1% during the 4th quarter. Point72 Asset Management L.P. now owns 325,000 shares of the software maker’s stock valued at $117,936,000 after purchasing an additional 220,200 shares during the last quarter. Magnetar Financial LLC purchased a new stake in ANSYS in the 1st quarter worth approximately $72,797,000. Finally, TOMS Capital Investment Management LP bought a new stake in shares of ANSYS in the 4th quarter worth approximately $53,647,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ANSS shares. KeyCorp started coverage on shares of ANSYS in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Rosenblatt Securities reduced their price target on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com began coverage on shares of ANSYS in a report on Sunday, September 22nd. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $318.33.

ANSYS Stock Up 0.1 %

Shares of ANSYS stock opened at $325.15 on Monday. The stock has a market capitalization of $28.39 billion, a PE ratio of 65.29, a price-to-earnings-growth ratio of 6.89 and a beta of 1.12. ANSYS, Inc. has a 52-week low of $258.01 and a 52-week high of $364.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.95 and a current ratio of 2.95. The company has a 50-day simple moving average of $315.85 and a two-hundred day simple moving average of $324.59.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $2.50 EPS for the quarter, topping 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 the consensus estimate of $550.30 million. During the same period last year, the company earned $1.06 EPS. ANSYS’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, analysts anticipate that ANSYS, Inc. will post 7.32 EPS for the current fiscal year.

Insider Transactions at ANSYS

In other ANSYS news, Director Glenda Dorchak sold 159 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $330.81, for a total value of $52,598.79. Following the transaction, the director now directly owns 3,782 shares of the company’s stock, valued at $1,251,123.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

ANSYS 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.