ANSYS (NASDAQ:ANSS) Shares Gap Up - Here's What Happened

ANSYS, Inc. (NASDAQ:ANSS - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $374.52, but opened at $394.05. ANSYS shares last traded at $389.28, with a volume of 953,420 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of ANSYS from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Robert W. Baird set a $396.00 price target on shares of ANSYS in a research report on Monday. Finally, Baird R W lowered shares of ANSYS from a "strong-buy" rating to a "hold" rating in a research report on Monday.

ANSYS Price Performance

The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 0.12. The firm has a market cap of $34.10 billion, a price-to-earnings ratio of 57.54, a price-to-earnings-growth ratio of 4.04 and a beta of 1.19. The company's 50-day moving average is $347.39 and its 200-day moving average is $334.41.

ANSYS (NASDAQ:ANSS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The software maker reported $1.64 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.11). The company had revenue of $504.89 million during the quarter, compared to the consensus estimate of $516.81 million. ANSYS had a net margin of 22.95% and a return on equity of 12.38%. ANSYS's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. Equities research analysts predict that ANSYS, Inc. will post 8.32 earnings per share for the current year.

Hedge Funds Weigh In On ANSYS

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANSS. Proficio Capital Partners LLC bought a new position in ANSYS in the 4th quarter valued at approximately $353,000. Raymond James Financial Inc. bought a new position in shares of ANSYS during the fourth quarter valued at $10,408,000. Independent Advisor Alliance raised its stake in shares of ANSYS by 16.0% during the fourth quarter. Independent Advisor Alliance now owns 993 shares of the software maker's stock valued at $335,000 after acquiring an additional 137 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of ANSYS by 2.4% during the fourth quarter. HighTower Advisors LLC now owns 18,145 shares of the software maker's stock valued at $6,121,000 after acquiring an additional 433 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of ANSYS by 1.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,401 shares of the software maker's stock valued at $1,147,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 92.39% 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.