Russell Investments Group Ltd. Trims Position in ANSYS, Inc. (NASDAQ:ANSS)

Russell Investments Group Ltd. lessened its stake in shares of ANSYS, Inc. (NASDAQ:ANSS) by 17.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,406 shares of the software maker’s stock after selling 23,609 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of ANSYS worth $36,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in shares of ANSYS during the second quarter worth about $29,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of ANSYS by 276.9% during the second quarter. China Universal Asset Management Co. Ltd. now owns 98 shares of the software maker’s stock worth $32,000 after purchasing an additional 72 shares in the last quarter. Colonial Trust Advisors grew its holdings in shares of ANSYS by 127.7% during the first quarter. Colonial Trust Advisors now owns 107 shares of the software maker’s stock worth $36,000 after purchasing an additional 60 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of ANSYS during the first quarter worth about $36,000. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of ANSYS by 1,500.0% during the second quarter. Capital Advisors Ltd. LLC now owns 128 shares of the software maker’s stock worth $42,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 90.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Oppenheimer cut their price objective on ANSYS from $400.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. William Blair reaffirmed a “market perform” rating on shares of ANSYS in a research note on Thursday, November 2nd. Bank of America lowered ANSYS from a “buy” rating to an “underperform” rating and cut their target price for the stock from $356.00 to $295.00 in a research note on Tuesday, November 14th. Rosenblatt Securities upped their target price on ANSYS from $320.00 to $332.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, Royal Bank of Canada cut their target price on ANSYS from $310.00 to $290.00 and set a “sector perform” rating for the company in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $313.90.

Insider Buying and Selling at ANSYS

In other ANSYS news, Director Glenda Dorchak sold 222 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $292.95, for a total value of $65,034.90. Following the completion of the sale, the director now owns 3,399 shares in the company, valued at $995,737.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ajei Gopal sold 9,566 shares of ANSYS stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $298.29, for a total value of $2,853,442.14. Following the completion of the sale, the chief executive officer now directly owns 213,977 shares in the company, valued at approximately $63,827,199.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Glenda Dorchak sold 222 shares of ANSYS stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $292.95, for a total value of $65,034.90. Following the completion of the sale, the director now owns 3,399 shares of the company’s stock, valued at $995,737.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,058 shares of company stock worth $6,663,649. 0.53% of the stock is currently owned by insiders.

ANSYS Stock Performance

Shares of ANSS stock opened at $299.46 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 2.43. ANSYS, Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $351.23. The stock has a 50 day moving average price of $293.52 and a two-hundred day moving average price of $309.51. The company has a market capitalization of $26.01 billion, a P/E ratio of 54.05, a PEG ratio of 5.85 and a beta of 1.20.

ANSYS Company Profile

ANSYS, Inc develops and markets engineering simulation software and services worldwide. It offers ANSYS Workbench, a framework upon which its multiphysics engineering simulation technologies are built and enables engineers to simulate the interactions between structures, heat transfer, fluids, electronics, and optical elements in a unified engineering simulation environment; high-performance computing product suite and the cloud; power analysis and optimization software suite that manages the power budget, power delivery integrity, and power-induced noise in an electronic design; and structural analysis product suite that provides simulation tools for product design and optimization.