Red Spruce Capital LLC Trims Stake in ANSYS, Inc. (NASDAQ:ANSS)

Red Spruce Capital LLC cut its stake in ANSYS, Inc. (NASDAQ:ANSS) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,040 shares of the software maker’s stock after selling 304 shares during the period. Red Spruce Capital LLC’s holdings in ANSYS were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ANSS. Swedbank AB bought a new position in shares of ANSYS in the first quarter worth about $128,089,000. M&G Plc bought a new position in shares of ANSYS in the first quarter worth 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 in the last quarter. Magnetar Financial LLC bought a new position in shares of ANSYS during the 1st quarter worth $72,797,000. Finally, TOMS Capital Investment Management LP bought a new position in shares of ANSYS during the 4th quarter worth $53,647,000. 92.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ANSS has been the topic of a number of recent research reports. Rosenblatt Securities dropped their price target on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. KeyCorp began coverage on ANSYS in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Finally, StockNews.com began coverage on ANSYS in a research note on Sunday, September 22nd. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $318.33.

Insider Activity

In other news, Director Glenda Dorchak sold 159 shares of the 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 approximately $1,251,123.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

ANSYS Stock Up 0.8 %

ANSYS stock traded up $2.64 during midday trading on Friday, reaching $315.73. The company’s stock had a trading volume of 230,504 shares, compared to its average volume of 540,392. The stock’s 50-day simple moving average is $315.97 and its 200-day simple moving average is $324.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.95 and a quick ratio of 2.95. ANSYS, Inc. has a 52-week low of $258.01 and a 52-week high of $364.31. The stock has a market capitalization of $27.56 billion, a P/E ratio of 63.40, a PEG ratio of 6.89 and a beta of 1.11.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates 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 business posted $1.06 earnings per share. The firm’s revenue was up 19.6% compared to the same quarter last year. On average, sell-side analysts expect that ANSYS, Inc. will post 7.32 EPS for the current year.

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.