North Star Asset Management Inc. increases stake in ANSYS, Inc. (NASDAQ:ANSS)

North Star Asset Management Inc. increased its stake in ANSYS, Inc. (NASDAQ:ANSS – Free Report) by 41.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,672 shares of the software maker’s stock after purchasing an additional 789 shares during the quarter. Holdings of North Star Asset Management Inc. in ANSYS were worth $859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ANSS. Norges Bank acquired a new stake in ANSYS in the 4th quarter valued at about $282,329,000. Swedbank AB purchased a new position in shares of ANSYS in the first quarter worth $128,089,000. M&G Plc acquired a new position in shares of ANSYS in the first quarter worth $115,922,000. Point72 Asset Management LP boosted its stake in ANSYS by 210.1% during the 4th quarter. Point72 Asset Management LP now owns 325,000 shares of the software maker’s stock worth $117,936,000 after acquiring an additional 220,200 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of ANSYS in the first quarter valued at $72,797,000. Hedge funds and other institutional investors own 92.39% of the company’s shares.

ANSYS trading down 1.5%

Shares of ANSS opened at $305.04 on Friday. The company has a current ratio of 2.95, a quick ratio of 2.95, and a debt-to-equity ratio of 0.13. The firm has a market cap of $26.63 billion, a P/E ratio of 61.25, a price-to-earnings-growth ratio of 6.89 and a beta of 1.12. The stock’s fifty-day simple moving average is $317.94, and its 200-day simple moving average is $326.44. ANSYS, Inc. has a twelve month low of $258.01 and a twelve month high of $364.31.

ANSYS (NASDAQ:ANSS – Get Free Report ) last issued its earnings results on Wednesday, July 31st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.58. The business had revenue of $594.14 million for 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%. The company’s quarterly revenue was up 19.6% year over year. In the same period last year, the company posted EPS of $1.06. On average, equities research analysts forecast that ANSYS, Inc. will post 7.32 earnings per share for the current year.

The Wall Street analyst weighs in

A number of research analysts have weighed in on ANSS shares. StockNews.com began coverage on ANSYS in a research note on Friday. They set a “hold” rating on the stock. Rosenblatt Securities cut their price target on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, KeyCorp began coverage on ANSYS in a research note on Thursday, June 27th. They have set a “sector weight” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $318.33, according to MarketBeat.com.

Get the latest analysis on ANSS

Indoor activity

In other news, Director Glenda Dorchak sold 159 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $330.81, for a total transaction of $52,598.79. Following the completion of the sale, the director now directly owns 3,782 shares in the company, valued at $1,251,123.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Insiders hold 0.46% of the company’s stock.

ANSYS profile

(Free report)

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, the rest of Europe, the Middle East, Africa and internationally. Offers the suite of structural analysis products that provide simulation tools for product design and optimization; the Ansys Mechanical product, an element analysis software; LS-DYNA solver for multiphysics simulation; and the power analysis and optimization software suite.

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