Synovus Financial Corp Sells 14,317 Shares of ANSYS, Inc. (NASDAQ:ANSS)

Synovus Financial Corp cut its stake in ANSYS, Inc. (NASDAQ:ANSS) by 58.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,149 shares of the software maker’s stock after selling 14,317 shares during the quarter. Synovus Financial Corp’s holdings in ANSYS were worth $3,234,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of ANSYS by 3.0% in the 3rd quarter. State Street Corp now owns 3,703,249 shares of the software maker’s stock valued at $1,179,966,000 after purchasing an additional 106,187 shares during the period. Geode Capital Management LLC raised its holdings in ANSYS by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,305,554 shares of the software maker’s stock worth $732,672,000 after purchasing an additional 37,577 shares in the last quarter. Earnest Partners LLC lifted its position in ANSYS by 2.5% during the second quarter. Earnest Partners LLC now owns 607,029 shares of the software maker’s stock valued at $195,160,000 after buying an additional 15,012 shares during the period. Impax Asset Management Group plc lifted its position in ANSYS by 8.0% during the third quarter. Impax Asset Management Group plc now owns 603,394 shares of the software maker’s stock valued at $192,259,000 after buying an additional 44,605 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of ANSYS by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 532,142 shares of the software maker’s stock valued at $169,556,000 after buying an additional 8,706 shares in the last quarter. 92.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Glenda Dorchak sold 152 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $313.61, for a total value of $47,668.72. Following the completion of the transaction, the director now directly owns 3,630 shares in the company, valued at $1,138,404.30. The trade was a 4.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

ANSYS Stock Performance

Shares of ANSYS stock opened at $340.24 on Friday. ANSYS, Inc. has a 1 year low of $289.82 and a 1 year high of $364.31. The firm’s 50-day moving average is $336.35 and its 200 day moving average is $325.17. The stock has a market cap of $29.75 billion, a price-to-earnings ratio of 52.51, a PEG ratio of 3.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.11 and a quick ratio of 3.11.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ANSS shares. Robert W. Baird increased 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. StockNews.com raised shares of ANSYS from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $342.50.

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.