ANSYS, Inc. (NASDAQ:ANSS) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,711 shares of the software maker’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in ANSYS were worth $7,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameliora Wealth Management Ltd. bought a new stake in ANSYS during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new position in shares of ANSYS during the fourth quarter valued at $47,000. Intact Investment Management Inc. bought a new stake in shares of ANSYS during the third quarter valued at about $70,000. Allworth Financial LP lifted its holdings in ANSYS by 33.7% in the fourth quarter. Allworth Financial LP now owns 258 shares of the software maker’s stock worth $92,000 after purchasing an additional 65 shares during the period. Finally, Brooklyn Investment Group bought a new position in ANSYS in the 3rd quarter valued at about $119,000. 92.39% of the stock is currently owned by institutional investors and hedge funds.

ANSYS Price Performance

Shares of NASDAQ ANSS opened at $327.78 on Thursday. ANSYS, Inc. has a twelve month low of $289.82 and a twelve month high of $363.03. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $341.07 and a two-hundred day moving average of $333.76. The company has a market capitalization of $28.73 billion, a price-to-earnings ratio of 50.04, a PEG ratio of 3.48 and a beta of 1.11.

ANSYS (NASDAQ:ANSS) last released its earnings results on Wednesday, February 19th. The software maker reported $3.65 EPS for the quarter, missing the consensus estimate of $3.97 by ($0.32). The business had revenue of $882.17 million for the quarter, compared to analyst estimates of $864.46 million. ANSYS had a net margin of 22.62% and a return on equity of 12.69%. As a group, analysts expect that ANSYS, Inc. will post 8.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ANSS shares. StockNews.com upgraded shares of ANSYS from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Rosenblatt Securities boosted their target price on ANSYS from $335.00 to $340.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Finally, Robert W. Baird increased their price target on ANSYS from $350.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Insider Transactions at ANSYS

In other news, Director Glenda Dorchak sold 200 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $336.62, for a total transaction of $67,324.00. Following the completion of the sale, the director now directly owns 3,430 shares of the company’s stock, valued at $1,154,606.60. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.