Cannon Global Investment Management LLC Makes New $1.40 Million Investment in ANSYS, Inc. (NASDAQ:ANSS)

Cannon Global Investment Management LLC purchased a new stake in shares of ANSYS, Inc. (NASDAQ:ANSS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,400 shares of the software maker’s stock, valued at approximately $1,402,000. ANSYS makes up approximately 2.2% of Cannon Global Investment Management LLC’s portfolio, making the stock its 8th biggest position.

Several other large investors have also recently modified their holdings of ANSS. Van ECK Associates Corp lifted its position in ANSYS by 28.3% in the 3rd quarter. Van ECK Associates Corp now owns 1,012 shares of the software maker’s stock valued at $326,000 after acquiring an additional 223 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of ANSYS by 1.6% in the third quarter. Janney Montgomery Scott LLC now owns 34,423 shares of the software maker’s stock worth $10,968,000 after purchasing an additional 554 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of ANSYS during the third quarter valued at $222,000. Eads & Heald Wealth Management boosted its position in shares of ANSYS by 1.6% during the third quarter. Eads & Heald Wealth Management now owns 2,533 shares of the software maker’s stock valued at $807,000 after buying an additional 40 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC increased its holdings in ANSYS by 7.1% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 38,509 shares of the software maker’s stock worth $12,270,000 after buying an additional 2,541 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ANSS. StockNews.com raised shares of ANSYS from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Rosenblatt Securities dropped their target price on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $318.33.

ANSYS Stock Performance

ANSS stock traded up $3.34 during midday trading on Friday, reaching $323.75. 558,471 shares of the company’s stock traded hands, compared to its average volume of 523,872. 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, Inc. has a 52-week low of $258.01 and a 52-week high of $364.31. The stock has a market cap of $28.29 billion, a P/E ratio of 57.20, a PEG ratio of 7.04 and a beta of 1.11. The stock’s 50-day moving average is $320.18 and its 200 day moving average is $321.51.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings data on Wednesday, July 31st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $1.92 by $0.58. The firm had revenue of $594.14 million during the quarter, compared to analyst estimates of $550.30 million. ANSYS had a return on equity of 11.51% and a net margin of 21.30%. ANSYS’s revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. As a group, analysts anticipate that ANSYS, Inc. will post 7.32 EPS for the current year.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 152 shares of ANSYS stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $313.61, for a total transaction of $47,668.72. Following the transaction, the director now directly owns 3,630 shares of the company’s stock, valued at $1,138,404.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.