M&T Bank Corp Lowers Holdings in ANSYS, Inc. (NASDAQ:ANSS)

M&T Bank Corp lowered its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS - Free Report) by 15.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,202 shares of the software maker's stock after selling 4,258 shares during the quarter. M&T Bank Corp's holdings in ANSYS were worth $7,661,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ANSS. Jones Financial Companies Lllp boosted its position in ANSYS by 114.9% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the software maker's stock worth $277,000 after purchasing an additional 439 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in ANSYS by 6.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,773 shares of the software maker's stock worth $598,000 after purchasing an additional 109 shares in the last quarter. Assetmark Inc. boosted its position in ANSYS by 468.2% during the fourth quarter. Assetmark Inc. now owns 125 shares of the software maker's stock worth $42,000 after purchasing an additional 103 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in ANSYS during the fourth quarter worth approximately $353,000. Finally, Raymond James Financial Inc. purchased a new position in ANSYS during the fourth quarter worth approximately $10,408,000. Hedge funds and other institutional investors own 92.39% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Glenda Dorchak sold 200 shares of the stock in a transaction that occurred on 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 directly owned 3,230 shares in the company, valued at approximately $969,032.30. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company's stock.

ANSYS Price Performance

Shares of ANSYS stock remained flat at $374.52 during mid-day trading on Friday. The company's stock had a trading volume of 1,090,743 shares, compared to its average volume of 530,263. The company has a fifty day moving average price of $343.81 and a 200-day moving average price of $333.45. ANSYS, Inc. has a fifty-two week low of $275.06 and a fifty-two week high of $380.07. The stock has a market capitalization of $32.93 billion, a PE ratio of 55.57, a PEG ratio of 3.85 and a beta of 1.19. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.12.

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

ANSYS 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.