American International Group Inc. Sells 4,283 Shares of ANSYS, Inc. (NASDAQ:ANSS)

American International Group Inc. trimmed its stake in shares of ANSYS, Inc. (NASDAQ:ANSS) by 12.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,964 shares of the software maker’s stock after selling 4,283 shares during the period. American International Group Inc.’s holdings in ANSYS were worth $3,677,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Creative Planning lifted its stake in ANSYS by 68.6% in the second quarter. Creative Planning now owns 875 shares of the software maker’s stock valued at $106,000 after acquiring an additional 356 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of ANSYS by 1.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 18,882 shares of the software maker’s stock worth $2,298,000 after buying an additional 269 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of ANSYS during the 2nd quarter worth about $1,060,000. Strs Ohio lifted its stake in shares of ANSYS by 43.8% during the 2nd quarter. Strs Ohio now owns 9,963 shares of the software maker’s stock worth $1,212,000 after buying an additional 3,036 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of ANSYS by 11.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 13,528 shares of the software maker’s stock worth $1,646,000 after buying an additional 1,388 shares during the last quarter. Institutional investors own 96.67% of the company’s stock.

Several analysts have weighed in on ANSS shares. Wedbush reiterated a “neutral” rating and issued a $129.19 price objective (up previously from $114.00) on shares of ANSYS in a research note on Friday, September 15th. Barclays decreased their target price on shares of ANSYS from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday, September 15th. Zacks Investment Research raised shares of ANSYS from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a report on Tuesday, November 7th. Citigroup lifted their price target on shares of ANSYS from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $118.00 target price on shares of ANSYS in a research report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $128.91.

In related news, VP Mark Hindsbo sold 5,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $151.70, for a total transaction of $758,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara Vaughn Scherer sold 1,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $150.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,504 shares of company stock valued at $2,808,608. Company insiders own 1.30% of the company’s stock.

Shares of ANSYS, Inc. (ANSS) traded down $0.06 during mid-day trading on Friday, reaching $147.59. 372,442 shares of the company’s stock were exchanged, compared to its average volume of 376,779. The company has a market cap of $12,529.65, a price-to-earnings ratio of 46.41 and a beta of 1.07. ANSYS, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $155.14.

ANSYS (NASDAQ:ANSS) last announced its quarterly earnings results on Wednesday, November 1st. The software maker reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.10. ANSYS had a net margin of 26.01% and a return on equity of 13.67%. The business had revenue of $276.77 million during the quarter, compared to analyst estimates of $263.77 million. During the same quarter in the previous year, the business posted $0.95 EPS. ANSYS’s quarterly revenue was up 12.6% on a year-over-year basis. analysts forecast that ANSYS, Inc. will post 3.57 EPS for the current fiscal year.

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About ANSYS

ANSYS, Inc (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.

Institutional Ownership by Quarter for ANSYS (NASDAQ:ANSS)

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