ANSYS (NASDAQ:ANSS) Shares Gap Up - Should You Buy?

ANSYS, Inc. (NASDAQ:ANSS - Get Free Report)'s share price gapped up prior to trading 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 changing hands.

Analysts Set New Price Targets

Several brokerages have issued reports on ANSS. Wall Street Zen lowered shares of ANSYS from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Robert W. Baird set a $396.00 price target on shares of ANSYS in a report on Monday.

ANSYS Stock Up 3.0%

The firm has a market cap of $33.92 billion, a price-to-earnings ratio of 57.25, a PEG ratio of 3.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.66 and a current ratio of 3.66. The business's 50-day moving average is $343.81 and its 200-day moving average is $333.40.

ANSYS (NASDAQ:ANSS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The software maker reported $1.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.11). The firm had revenue of $504.89 million for the quarter, compared to analyst estimates of $516.81 million. ANSYS had a return on equity of 12.38% and a net margin of 22.95%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 EPS. On average, equities analysts predict that ANSYS, Inc. will post 8.32 EPS for the current year.

Institutional Investors Weigh In On ANSYS

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in ANSYS by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 10,903,178 shares of the software maker's stock valued at $3,451,510,000 after acquiring an additional 259,412 shares in the last quarter. Geode Capital Management LLC increased its position in ANSYS by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 2,363,744 shares of the software maker's stock valued at $796,033,000 after acquiring an additional 58,190 shares in the last quarter. FIL Ltd increased its position in ANSYS by 32.5% in the 4th quarter. FIL Ltd now owns 2,086,177 shares of the software maker's stock valued at $703,730,000 after acquiring an additional 511,557 shares in the last quarter. Capital Research Global Investors acquired a new stake in ANSYS in the 4th quarter valued at about $695,129,000. Finally, Norges Bank acquired a new stake in ANSYS in the 4th quarter valued at about $615,566,000. Institutional investors and hedge funds 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.