Trust Point Inc. Takes $745,000 Position in ANSYS, Inc. (NASDAQ:ANSS)

Trust Point Inc. purchased a new stake in shares of ANSYS, Inc. (NASDAQ:ANSS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,208 shares of the software maker's stock, valued at approximately $745,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bangor Savings Bank boosted its holdings in shares of ANSYS by 32.7% in 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 in the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in ANSYS by 2,833.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker's stock worth $56,000 after buying an additional 170 shares during the period. Intact Investment Management Inc. purchased a new stake in ANSYS in the 3rd quarter worth approximately $70,000. Brooklyn Investment Group bought a new position in shares of ANSYS in the 3rd quarter worth approximately $119,000. Finally, Asset Dedication LLC raised its position in shares of ANSYS by 35.1% in the 3rd quarter. Asset Dedication LLC now owns 385 shares of the software maker's stock worth $123,000 after acquiring an additional 100 shares in the last quarter. 92.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other ANSYS news, Director Glenda Dorchak sold 200 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $336.62, for a total transaction of $67,324.00. Following the sale, the director now directly owns 3,430 shares in the company, valued at $1,154,606.60. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.46% of the stock is owned by company insiders.

ANSYS Price Performance

Shares of NASDAQ:ANSS traded down $1.76 during mid-day trading on Friday, reaching $344.86. The stock had a trading volume of 556,337 shares, compared to its average volume of 433,980. 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 $30.16 billion, a P/E ratio of 53.22, a price-to-earnings-growth ratio of 3.61 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 $344.21 and its 200 day moving average price is $330.69.

About ANSYS

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.