Franklin Resources Inc. Decreases Stake in ANSYS, Inc. (NASDAQ:ANSS)

Franklin Resources Inc. reduced its holdings in ANSYS, Inc. (NASDAQ:ANSS - Free Report) by 19.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 693,000 shares of the software maker's stock after selling 162,911 shares during the quarter. Franklin Resources Inc. owned 0.79% of ANSYS worth $232,362,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ANSS. Tidal Investments LLC lifted its holdings in ANSYS by 5.0% in the 3rd quarter. Tidal Investments LLC now owns 10,841 shares of the software maker's stock worth $3,454,000 after buying an additional 520 shares during the period. Destination Wealth Management lifted its holdings in ANSYS by 1.7% in the 3rd quarter. Destination Wealth Management now owns 69,296 shares of the software maker's stock worth $22,080,000 after buying an additional 1,147 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in ANSYS in the 3rd quarter worth approximately $174,000. M&T Bank Corp lifted its holdings in ANSYS by 1.0% in the 3rd quarter. M&T Bank Corp now owns 30,118 shares of the software maker's stock worth $9,597,000 after buying an additional 312 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in ANSYS by 11.7% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,038 shares of the software maker's stock worth $332,000 after buying an additional 109 shares during the period. 92.39% of the stock is currently owned by institutional investors.

Insider Activity at ANSYS

In related news, Director Glenda Dorchak sold 152 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $313.61, for a total transaction of $47,668.72. Following the completion of the transaction, the director now owns 3,630 shares of the company's stock, valued at $1,138,404.30. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

ANSYS Stock Down 0.4 %

Shares of ANSS traded down $1.34 on Friday, reaching $340.24. The stock had a trading volume of 404,231 shares, compared to its average volume of 525,489. The firm has a market capitalization of $29.75 billion, a price-to-earnings ratio of 52.51, a price-to-earnings-growth ratio of 3.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.11 and a current ratio of 3.11. The company has a 50-day simple moving average of $336.35 and a 200-day simple moving average of $325.17. ANSYS, Inc. has a 12-month low of $289.82 and a 12-month high of $364.31.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird increased their price objective on ANSYS from $350.00 to $365.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. StockNews.com upgraded ANSYS from a "hold" rating to a "buy" rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $342.50.

ANSYS 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.