Sumitomo Mitsui Trust Holdings Inc. Trims Stock Position in ANSYS, Inc. (NASDAQ:ANSS)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of ANSYS, Inc. (NASDAQ:ANSS) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 518,243 shares of the software maker’s stock after selling 17,953 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.59% of ANSYS worth $179,913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Treasurer of the State of North Carolina grew its position in shares of ANSYS by 11.1% in the 4th quarter. Treasurer of the State of North Carolina now owns 50,703 shares of the software maker’s stock worth $18,399,000 after buying an additional 5,055 shares during the period. Evoke Wealth LLC purchased a new position in shares of ANSYS during the fourth quarter valued at approximately $3,032,000. Ninety One North America Inc. boosted its position in shares of ANSYS by 49.3% in the 4th quarter. Ninety One North America Inc. now owns 29,863 shares of the software maker’s stock worth $10,837,000 after purchasing an additional 9,863 shares in the last quarter. Sei Investments Co. grew its stake in shares of ANSYS by 18.6% in the 4th quarter. Sei Investments Co. now owns 423,106 shares of the software maker’s stock worth $153,537,000 after buying an additional 66,338 shares during the last quarter. Finally, Thematics Asset Management increased its position in ANSYS by 25.0% during the 4th quarter. Thematics Asset Management now owns 90,898 shares of the software maker’s stock valued at $32,985,000 after buying an additional 18,173 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

ANSYS Stock Performance

ANSS traded down $1.78 during trading on Wednesday, hitting $325.32. The company’s stock had a trading volume of 48,480 shares, compared to its average volume of 618,196. ANSYS, Inc. has a one year low of $258.01 and a one year high of $364.31. The business’s 50 day simple moving average is $324.85 and its 200-day simple moving average is $333.14. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.14. The firm has a market cap of $28.40 billion, a PE ratio of 65.68, a P/E/G ratio of 7.16 and a beta of 1.11.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.54). The company had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $549.85 million. ANSYS had a return on equity of 10.45% and a net margin of 19.51%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 EPS. As a group, sell-side analysts predict that ANSYS, Inc. will post 7.05 EPS for the current fiscal year.

Insider Buying and Selling at ANSYS

In other ANSYS news, Director Glenda Dorchak sold 150 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $342.08, for a total value of $51,312.00. Following the completion of the sale, the director now owns 3,049 shares in the company, valued at approximately $1,043,001.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ANSS shares. Rosenblatt Securities restated a “neutral” rating and set a $345.00 price target on shares of ANSYS in a report on Friday, May 3rd. StockNews.com initiated coverage on ANSYS in a research report on Wednesday, June 26th. They issued a “hold” rating for the company. Finally, KeyCorp initiated coverage on shares of ANSYS in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $320.00.

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.