ANSYS, Inc. (NASDAQ:ANSS) Sees Large Decrease in Short Interest

ANSYS, Inc. (NASDAQ:ANSSGet Free Report) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,330,000 shares, a decline of 5.7% from the October 31st total of 1,410,000 shares. Based on an average daily trading volume, of 427,300 shares, the days-to-cover ratio is currently 3.1 days. Approximately 1.5% of the shares of the company are short sold.

Insider Buying and Selling at ANSYS

In related news, Director Glenda Dorchak sold 152 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $313.61, for a total transaction of $47,668.72. Following the sale, the director now directly owns 3,630 shares in the company, valued at approximately $1,138,404.30. The trade was a 4.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On ANSYS

Hedge funds and other institutional investors have recently modified their holdings of the company. DT Investment Partners LLC boosted its holdings in ANSYS by 888.9% during the 2nd quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock valued at $29,000 after acquiring an additional 80 shares during the period. Redwood Wealth Management Group LLC purchased a new position in ANSYS during the second quarter valued at $32,000. Rothschild Investment LLC purchased a new position in ANSYS during the second quarter valued at $38,000. Bangor Savings Bank increased its holdings in shares of ANSYS by 32.7% in the 3rd quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock worth $44,000 after purchasing an additional 34 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. increased its holdings in shares of ANSYS by 2,833.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock worth $56,000 after purchasing an additional 170 shares in the last quarter. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ANSS. Rosenblatt Securities reduced their target price on ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Robert W. Baird boosted their target price on ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com cut ANSYS from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $342.50.

Check Out Our Latest Research Report on ANSS

ANSYS Price Performance

ANSS opened at $350.51 on Tuesday. The stock has a 50-day moving average price of $331.57 and a 200-day moving average price of $324.07. ANSYS has a 12-month low of $275.81 and a 12-month high of $364.31. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $30.65 billion, a P/E ratio of 54.09, a PEG ratio of 3.98 and a beta of 1.11.

About ANSYS

(Get Free Report)

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.

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