Frank Rimerman Advisors LLC Invests $521,000 in ANSYS, Inc. (NASDAQ:ANSS)

Frank Rimerman Advisors LLC acquired a new stake in shares of ANSYS, Inc. (NASDAQ:ANSS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,619 shares of the software maker’s stock, valued at approximately $521,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of ANSYS during the fourth quarter valued at approximately $29,000. DT Investment Partners LLC raised its stake in shares of ANSYS by 888.9% in the second quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock worth $29,000 after purchasing an additional 80 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of ANSYS during the second quarter valued at $32,000. Rothschild Investment LLC purchased a new stake in shares of ANSYS during the 2nd quarter valued at about $38,000. Finally, Core Wealth Advisors Inc. purchased a new position in shares of ANSYS during the fourth quarter valued at approximately $40,000. 92.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ANSS. StockNews.com began coverage on ANSYS in a report on Sunday. They issued a “hold” rating for the company. KeyCorp started coverage on shares of ANSYS in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Finally, Rosenblatt Securities decreased 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, ANSYS presently has a consensus rating of “Hold” and an average price target of $318.33.

ANSYS Stock Performance

NASDAQ:ANSS opened at $321.27 on Tuesday. The stock has a 50-day moving average price of $315.60 and a 200 day moving average price of $324.89. The stock has a market capitalization of $28.05 billion, a P/E ratio of 64.51, a P/E/G ratio of 6.80 and a beta of 1.12. ANSYS, Inc. has a 12-month low of $258.01 and a 12-month high of $364.31. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.13.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.58. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The firm had revenue of $594.14 million for the quarter, compared to analysts’ expectations of $550.30 million. During the same quarter last year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts forecast that ANSYS, Inc. will post 7.32 EPS for the current fiscal year.

Insider Activity

In related news, Director Glenda Dorchak sold 159 shares of the business’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 sale, the director now directly owns 3,782 shares in the company, valued at $1,251,123.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.