West Tower Group LLC Sells 900 Shares of ANSYS, Inc. (NASDAQ:ANSS)

West Tower Group LLC trimmed its holdings in ANSYS, Inc. (NASDAQ:ANSS) by 62.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 550 shares of the software maker’s stock after selling 900 shares during the period. West Tower Group LLC’s holdings in ANSYS were worth $175,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Bangor Savings Bank increased its holdings in 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 buying an additional 34 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in ANSYS by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 1,285 shares of the software maker’s stock worth $409,000 after purchasing an additional 37 shares during the last quarter. Gardner Lewis Asset Management L P boosted its position in ANSYS by 1.9% in the second quarter. Gardner Lewis Asset Management L P now owns 2,175 shares of the software maker’s stock worth $699,000 after purchasing an additional 40 shares during the last quarter. Eads & Heald Wealth Management boosted its position in ANSYS by 1.6% in 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 during the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in shares of ANSYS by 2.7% during the 3rd 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.

Wall Street Analysts Forecast Growth

ANSS has been the topic of a number of analyst reports. Rosenblatt Securities lowered their price objective on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Robert W. Baird boosted their price target on ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com cut ANSYS from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, ANSYS has an average rating of “Hold” and a consensus price target of $342.50.

ANSYS Stock Performance

NASDAQ:ANSS opened at $352.14 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.11 and a quick ratio of 3.11. ANSYS, Inc. has a 1 year low of $275.81 and a 1 year high of $364.31. The stock’s 50 day simple moving average is $328.51 and its two-hundred day simple moving average is $323.31. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 3.96 and a beta of 1.11.

Insider Activity

In other news, Director Glenda Dorchak sold 152 shares of the business’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 transaction, the director now owns 3,630 shares of the company’s stock, valued at approximately $1,138,404.30. The trade was a 4.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.