Brown Capital Management LLC Sells 89,830 Shares of ANSYS, Inc. (NASDAQ:ANSS)

Brown Capital Management LLC cut its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS - Free Report) by 16.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 458,964 shares of the software maker's stock after selling 89,830 shares during the period. ANSYS comprises about 3.1% of Brown Capital Management LLC's portfolio, making the stock its 15th biggest position. Brown Capital Management LLC owned about 0.52% of ANSYS worth $146,240,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank lifted its position in shares of ANSYS by 32.7% during the 3rd quarter. Bangor Savings Bank now owns 138 shares of the software maker's stock worth $44,000 after purchasing an additional 34 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of ANSYS by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,285 shares of the software maker's stock valued at $409,000 after purchasing an additional 37 shares during the last quarter. Gardner Lewis Asset Management L P increased its stake in ANSYS by 1.9% in the 2nd quarter. Gardner Lewis Asset Management L P now owns 2,175 shares of the software maker's stock valued at $699,000 after buying an additional 40 shares during the period. Eads & Heald Wealth Management raised its holdings in ANSYS by 1.6% during the third quarter. Eads & Heald Wealth Management now owns 2,533 shares of the software maker's stock worth $807,000 after purchasing an additional 40 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in shares of ANSYS by 2.7% in the third quarter. Verdence Capital Advisors LLC now owns 1,597 shares of the software maker's stock valued at $509,000 after buying an additional 42 shares in the last quarter. 92.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ANSYS

In related news, Director Glenda Dorchak sold 152 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 3,630 shares in the company, valued at approximately $1,138,404.30. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.

ANSYS Stock Up 2.2 %

Shares of ANSYS stock traded up $7.38 during midday trading on Thursday, hitting $349.62. The company's stock had a trading volume of 445,814 shares, compared to its average volume of 526,350. ANSYS, Inc. has a 1-year low of $275.81 and a 1-year high of $364.31. The firm has a market capitalization of $30.57 billion, a P/E ratio of 52.81, a PEG ratio of 3.84 and a beta of 1.11. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $326.59 and a 200-day simple moving average of $322.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ANSS shares. Robert W. Baird boosted their price objective on shares of ANSYS from $350.00 to $365.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Rosenblatt Securities decreased their target price on ANSYS from $345.00 to $335.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. Finally, StockNews.com cut shares of ANSYS from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.