JPMorgan Chase & Co. Boosts Stock Position in ANSYS, Inc. (NASDAQ:ANSS)

Posted by on Jun 12th, 2023

JPMorgan Chase & Co. boosted its position in ANSYS, Inc. (NASDAQ:ANSS – Get Rating) by 6.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 123,350 shares of the software maker’s stock after buying an additional 7,817 shares during the quarter. JPMorgan Chase & Co.’s holdings in ANSYS were worth $29,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CI Investments Inc. increased its holdings in shares of ANSYS by 927.3% in the 3rd quarter. CI Investments Inc. now owns 113 shares of the software maker’s stock worth $25,000 after buying an additional 102 shares during the last quarter. Accurate Wealth Management LLC purchased a new position in ANSYS in the 4th quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in ANSYS by 78.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 107 shares of the software maker’s stock valued at $26,000 after acquiring an additional 47 shares during the last quarter. CVA Family Office LLC grew its position in ANSYS by 106.1% in the 3rd quarter. CVA Family Office LLC now owns 136 shares of the software maker’s stock valued at $30,000 after acquiring an additional 70 shares in the last quarter. Finally, General Partner Inc. acquired a new stake in ANSYS in the fourth quarter valued at approximately $41,000. 89.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Barbara Vaughn Scherer sold 1,675 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $299.17, for a total transaction of $501,109.75. Following the completion of the transaction, the director now directly owns 11,707 shares in the company, valued at $3,502,383.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ANSYS news, Director Barbara Vaughn Scherer sold 1,675 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $299.17, for a total transaction of $501,109.75. Following the sale, the director now owns 11,707 shares of the company’s stock, valued at approximately $3,502,383.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Glenda Dorchak sold 500 shares of ANSYS stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $294.61, for a total transaction of $147,305.00. Following the completion of the sale, the director now owns 3,541 shares in the company, valued at $1,043,214.01. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ANSS. StockNews.com upgraded shares of ANSYS from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. TheStreet upgraded ANSYS from a “c+” rating to a “b” rating in a research report on Wednesday, February 22nd. Bank of America lifted their target price on shares of ANSYS from $325.00 to $356.00 in a research note on Thursday, April 6th. JPMorgan Chase & Co. boosted their price objective on ANSYS from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, February 27th. Finally, Mizuho upped their price objective on ANSYS from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $311.92.

ANSYS Price Performance

Shares of NASDAQ:ANSS opened at $325.53 on Monday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.16. ANSYS, Inc. has a 52 week low of $194.23 and a 52 week high of $333.89. The stock has a market cap of $28.22 billion, a PE ratio of 51.43, a PEG ratio of 6.42 and a beta of 1.25. The company’s fifty day moving average is $313.85 and its 200 day moving average is $285.53.

ANSYS (NASDAQ:ANSS – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The software maker reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.26. The company had revenue of $509.45 million for the quarter, compared to the consensus estimate of $492.15 million. ANSYS had a net margin of 25.74% and a return on equity of 12.73%. Research analysts anticipate that ANSYS, Inc. will post 6.64 earnings per share for the current year.

ANSYS Profile

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ANSYS, Inc engages in the development and marketing of engineering simulation software and services. The firm’s solutions include automotive, aerospace and defense, construction, energy, materials and chemical processing, autonomous engineering, and electrification. The company was founded by John A.

See Also

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Institutional Ownership by Quarter for ANSYS (NASDAQ:ANSS)

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