ANSYS (NASDAQ:ANSS) Lowered to “Hold” Rating by StockNews.com

ANSYS (NASDAQ:ANSS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Separately, Robert W. Baird boosted their price target on shares of ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $342.50.

ANSYS Price Performance

ANSS traded up $0.27 during midday trading on Monday, hitting $338.65. The stock had a trading volume of 537,757 shares, compared to its average volume of 406,686. The company has a market cap of $29.61 billion, a P/E ratio of 52.26, a price-to-earnings-growth ratio of 3.89 and a beta of 1.11. ANSYS has a 1 year low of $289.82 and a 1 year high of $363.03. The business has a fifty day moving average of $340.79 and a 200 day moving average of $326.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.11 and a current ratio of 3.11.

Institutional Investors Weigh In On ANSYS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new stake in ANSYS in the 2nd quarter worth $32,000. Bangor Savings Bank grew its stake in shares of ANSYS by 32.7% in the third quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock worth $44,000 after purchasing an additional 34 shares during the last quarter. DiNuzzo Private Wealth Inc. increased its holdings in ANSYS by 2,833.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock valued at $56,000 after purchasing an additional 170 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in ANSYS during the 2nd quarter valued at approximately $64,000. Finally, Intact Investment Management Inc. bought a new position in ANSYS during the 3rd quarter valued at approximately $70,000. 92.39% of the stock is currently owned by institutional investors.

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.