Congress Asset Management Co. Sells 2,396 Shares of ANSYS, Inc. (NASDAQ:ANSS)

Congress Asset Management Co. lowered its position in ANSYS, Inc. (NASDAQ:ANSS - Free Report) by 79.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 620 shares of the software maker's stock after selling 2,396 shares during the period. Congress Asset Management Co.'s holdings in ANSYS were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ANSS. Ameliora Wealth Management Ltd. bought a new stake in ANSYS during the fourth quarter valued at about $27,000. Intact Investment Management Inc. bought a new stake in ANSYS during the third quarter valued at about $70,000. Brooklyn Investment Group bought a new stake in ANSYS during the third quarter valued at about $119,000. Wilmington Savings Fund Society FSB bought a new stake in ANSYS during the third quarter valued at about $174,000. Finally, Cyndeo Wealth Partners LLC bought a new stake in ANSYS during the fourth quarter valued at about $201,000. Institutional investors own 92.39% of the company's stock.

ANSYS Price Performance

Shares of NASDAQ:ANSS traded up $3.72 during mid-day trading on Thursday, reaching $340.46. The stock had a trading volume of 714,752 shares, compared to its average volume of 482,720. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 0.13. The company has a market cap of $29.77 billion, a P/E ratio of 52.54, a price-to-earnings-growth ratio of 3.53 and a beta of 1.12. ANSYS, Inc. has a 1 year low of $289.82 and a 1 year high of $363.03. The business's 50 day moving average price is $342.83 and its 200 day moving average price is $332.42.

ANSYS (NASDAQ:ANSS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The software maker reported $3.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.97 by ($0.32). ANSYS had a net margin of 23.01% and a return on equity of 12.64%. The company had revenue of $882.17 million for the quarter, compared to analysts' expectations of $864.46 million. Research analysts expect that ANSYS, Inc. will post 7.66 EPS for the current fiscal year.

Insider Transactions at ANSYS

In other news, Director Glenda Dorchak sold 200 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $336.62, for a total value of $67,324.00. Following the sale, the director now directly owns 3,430 shares in the company, valued at approximately $1,154,606.60. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ANSS shares. StockNews.com lowered ANSYS from a "buy" rating to a "hold" rating in a research note on Monday, January 6th. Robert W. Baird upped their price objective on ANSYS from $350.00 to $365.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $346.67.

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.