New York Life Investment Management LLC Buys 13,293 Shares of ANSYS, Inc. (NASDAQ:ANSS)

New York Life Investment Management LLC increased its stake in ANSYS, Inc. (NASDAQ:ANSS) by 26.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,690 shares of the software maker’s stock after acquiring an additional 13,293 shares during the period. New York Life Investment Management LLC owned about 0.07% of ANSYS worth $20,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ANSS. Norges Bank bought a new stake in ANSYS in the fourth quarter valued at approximately $282,329,000. Swedbank AB purchased a new stake in ANSYS during the 1st quarter valued at $128,089,000. M&G Plc bought a new stake in ANSYS in the 1st quarter worth $115,922,000. Point72 Asset Management L.P. increased its position in shares of ANSYS by 210.1% in the fourth quarter. Point72 Asset Management L.P. now owns 325,000 shares of the software maker’s stock valued at $117,936,000 after acquiring an additional 220,200 shares during the period. Finally, Magnetar Financial LLC purchased a new position in shares of ANSYS in the first quarter valued at about $72,797,000. Institutional investors own 92.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ANSS shares. Rosenblatt Securities cut their target price on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. StockNews.com initiated coverage on ANSYS in a research report on Friday. They issued a “hold” rating on the stock. Finally, KeyCorp began coverage on ANSYS in a report on Thursday, June 27th. They set a “sector weight” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, ANSYS presently has an average rating of “Hold” and an average price target of $318.33.

Insider Buying and Selling at ANSYS

In other news, Director Glenda Dorchak sold 159 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,251,123.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

ANSYS Price Performance

Shares of ANSS stock opened at $305.04 on Friday. The business’s fifty day moving average is $317.94 and its 200 day moving average is $326.48. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.13. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of 61.25, a PEG ratio of 6.89 and a beta of 1.12. ANSYS, Inc. has a twelve month low of $258.01 and a twelve month high of $364.31.

ANSYS (NASDAQ:ANSS) last announced its 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 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 in the previous year, the business posted $1.06 EPS. The company’s quarterly revenue was up 19.6% on a year-over-year basis. Research analysts expect that ANSYS, Inc. will post 7.32 EPS for the current fiscal 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.