Schechter Investment Advisors LLC Makes New Investment in ANSYS, Inc. (NASDAQ:ANSS)

Posted by Defense World Staff on Jul 21st, 2023

Schechter Investment Advisors LLC acquired a new position in shares of ANSYS, Inc. (NASDAQ:ANSS – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 661 shares of the software maker’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of ANSYS by 57.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 99 shares of the software maker’s stock valued at $33,000 after acquiring an additional 36 shares in the last quarter. Accurate Wealth Management LLC bought a new position in shares of ANSYS in the fourth quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of 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 in the last quarter. Gyon Technologies Capital Management LP bought a new position in shares of ANSYS in the fourth quarter valued at approximately $37,000. Finally, Covestor Ltd grew its holdings in shares of ANSYS by 327.8% in the first quarter. Covestor Ltd now owns 154 shares of the software maker’s stock valued at $49,000 after acquiring an additional 118 shares in the last quarter. 89.68% of the stock is owned by institutional investors.

Insider Transactions at ANSYS

In other news, SVP Janet Lee sold 2,580 shares of ANSYS stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $326.21, for a total value of $841,621.80. Following the transaction, the senior vice president now owns 20,491 shares in the company, valued at $6,684,369.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Janet Lee sold 2,580 shares of ANSYS stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $326.21, for a total value of $841,621.80. Following the transaction, the senior vice president now owns 20,491 shares in the company, valued at $6,684,369.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Glenda Dorchak sold 500 shares of ANSYS stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $294.61, for a total value of $147,305.00. Following the completion of the transaction, the director now owns 3,541 shares in the company, valued at approximately $1,043,214.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,238 shares of company stock worth $23,261,277. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ANSS. Bank of America upped their target price on ANSYS from $325.00 to $356.00 in a report on Thursday, April 6th. StockNews.com raised ANSYS from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Loop Capital increased their price objective on ANSYS from $310.00 to $315.00 and gave the company a “hold” rating in a report on Tuesday, April 18th. Barclays increased their price objective on ANSYS from $292.00 to $303.00 and gave the company an “underweight” rating in a report on Friday, July 14th. Finally, Citigroup increased their price objective on ANSYS from $326.00 to $347.00 in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $315.33.

ANSYS Trading Down 2.4 %

Shares of ANSS stock opened at $340.50 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $323.81 and a two-hundred day moving average price of $302.58. ANSYS, Inc. has a 12-month low of $194.23 and a 12-month high of $351.23. The firm has a market cap of $29.51 billion, a P/E ratio of 53.79, a price-to-earnings-growth ratio of 10.32 and a beta of 1.23.

ANSYS (NASDAQ:ANSS – Get Free Report) last issued its quarterly earnings results on Wednesday, May 3rd. The software maker reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.26. The firm had revenue of $509.45 million during the quarter, compared to analyst estimates of $492.15 million. ANSYS had a return on equity of 12.73% and a net margin of 25.74%. Equities analysts anticipate that ANSYS, Inc. will post 6.67 EPS for the current fiscal year.

About ANSYS

(Free Report)

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.