Envestnet Asset Management Inc. Cuts Stock Position in ANSYS, Inc. (NASDAQ:ANSS)

Envestnet Asset Management Inc. cut its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 215,735 shares of the software maker's stock after selling 16,210 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.25% of ANSYS worth $68,293,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. NBC Securities Inc. bought a new position in ANSYS during the first quarter valued at about $31,000. Quarry LP grew its position in shares of ANSYS by 1,550.0% during the 4th quarter. Quarry LP now owns 99 shares of the software maker's stock valued at $33,000 after acquiring an additional 93 shares during the period. Assetmark Inc. grew its position in shares of ANSYS by 468.2% during the 4th quarter. Assetmark Inc. now owns 125 shares of the software maker's stock valued at $42,000 after acquiring an additional 103 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of ANSYS during the 4th quarter worth approximately $42,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of ANSYS in the 4th quarter worth approximately $43,000. 92.39% of the stock is currently owned by institutional investors.

Insider Activity

In other ANSYS news, Director Glenda Dorchak sold 200 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $300.01, for a total value of $60,002.00. Following the completion of the transaction, the director owned 3,230 shares in the company, valued at $969,032.30. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded ANSYS from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

ANSYS Price Performance

NASDAQ ANSS opened at $374.52 on Friday. The company has a market cap of $32.93 billion, a PE ratio of 55.57, a price-to-earnings-growth ratio of 3.85 and a beta of 1.19. ANSYS, Inc. has a 52 week low of $275.06 and a 52 week high of $380.07. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.12. The firm's 50-day simple moving average is $343.81 and its two-hundred day simple moving average is $333.51.

ANSYS (NASDAQ:ANSS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The software maker reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.11). The business 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%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. Research analysts predict that ANSYS, Inc. will post 8.32 earnings per share for the current year.

ANSYS Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.