First Horizon Advisors Inc. Trims Stake in ANSYS, Inc. (NASDAQ:ANSS)

First Horizon Advisors Inc. cut its stake in shares of ANSYS, Inc. (NASDAQ:ANSS) by 10.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 414 shares of the software maker’s stock after selling 46 shares during the quarter. First Horizon Advisors Inc.’s holdings in ANSYS were worth $150,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. CVA Family Office LLC bought a new stake in shares of ANSYS during the 4th quarter valued at $28,000. Raleigh Capital Management Inc. raised its holdings in ANSYS by 135.7% during the third quarter. Raleigh Capital Management Inc. now owns 99 shares of the software maker’s stock valued at $29,000 after acquiring an additional 57 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of ANSYS in the fourth quarter valued at about $47,000. KB Financial Partners LLC boosted its stake in shares of ANSYS by 69.5% in the third quarter. KB Financial Partners LLC now owns 178 shares of the software maker’s stock worth $53,000 after acquiring an additional 73 shares during the period. Finally, Lindbrook Capital LLC grew its position in shares of ANSYS by 18.1% during the third quarter. Lindbrook Capital LLC now owns 241 shares of the software maker’s stock worth $72,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 92.39% of the company’s stock.

ANSYS Stock Performance

Shares of NASDAQ:ANSS opened at $321.59 on Tuesday. The firm has a fifty day simple moving average of $335.28 and a two-hundred day simple moving average of $322.81. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $28.07 billion, a P/E ratio of 64.58, a PEG ratio of 5.01 and a beta of 1.16. ANSYS, Inc. has a 52 week low of $258.01 and a 52 week high of $364.31.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.39 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.54). ANSYS had a return on equity of 10.45% and a net margin of 19.51%. The company had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $549.85 million. During the same quarter in the prior year, the business posted $1.45 EPS. The company’s revenue was down 8.4% on a year-over-year basis. On average, analysts expect that ANSYS, Inc. will post 7.39 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Glenda Dorchak sold 150 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $342.08, for a total value of $51,312.00. Following the completion of the sale, the director now directly owns 3,049 shares in the company, valued at $1,043,001.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

ANSS has been the subject of several recent analyst reports. Rosenblatt Securities restated a “neutral” rating and issued a $345.00 price target on shares of ANSYS in a research note on Friday. Mizuho dropped their target price on shares of ANSYS from $350.00 to $330.00 and set a “neutral” rating for the company in a research report on Wednesday, January 17th. Wolfe Research reiterated a “peer perform” rating on shares of ANSYS in a report on Wednesday, January 17th. Barclays increased their price objective on shares of ANSYS from $314.00 to $340.00 and gave the company an “underweight” rating in a report on Thursday, February 22nd. Finally, StockNews.com began coverage on ANSYS in a report on Wednesday, May 1st. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $320.00.

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.