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

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in shares of ANSYS by 468.2% in the 4th quarter. Assetmark Inc. now owns 125 shares of the software maker's stock worth $42,000 after purchasing an additional 103 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of ANSYS in the fourth quarter valued at about $353,000. Raymond James Financial Inc. bought a new position in ANSYS during the fourth quarter worth about $10,408,000. Independent Advisor Alliance grew its stake in ANSYS by 16.0% during the fourth quarter. Independent Advisor Alliance now owns 993 shares of the software maker's stock worth $335,000 after buying an additional 137 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in ANSYS by 2.4% in the 4th quarter. HighTower Advisors LLC now owns 18,145 shares of the software maker's stock valued at $6,121,000 after buying an additional 433 shares during the last quarter. Institutional investors own 92.39% of the company's stock.

Analysts Set New Price Targets

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

ANSYS Trading Up 1.8%

Shares of NASDAQ ANSS traded up $6.87 during trading hours on Tuesday, hitting $392.72. 2,732,504 shares of the company traded hands, compared to its average volume of 555,470. The company's 50 day moving average price is $345.03 and its 200 day moving average price is $333.72. The stock has a market capitalization of $34.53 billion, a price-to-earnings ratio of 58.27, a price-to-earnings-growth ratio of 3.85 and a beta of 1.19. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 0.12. ANSYS, Inc. has a 12 month low of $275.06 and a 12 month high of $395.49.

ANSYS (NASDAQ:ANSS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The software maker reported $1.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.11). The company had revenue of $504.89 million for the quarter, compared to analysts' expectations 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 company earned $1.39 earnings per share. On average, equities research analysts anticipate that ANSYS, Inc. will post 8.32 earnings per share for the current fiscal 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.