Corebridge Financial Inc. Decreases Stake in ANSYS, Inc. (NASDAQ:ANSS)

Corebridge Financial Inc. decreased its holdings in ANSYS, Inc. (NASDAQ:ANSS) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 28,296 shares of the software maker’s stock after selling 703 shares during the period. Corebridge Financial Inc.’s holdings in ANSYS were worth $9,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANSS. Stock Yards Bank & Trust Co. raised its stake in shares of ANSYS by 1.3% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 2,275 shares of the software maker’s stock valued at $767,000 after acquiring an additional 30 shares during the period. Greenleaf Trust raised its position in ANSYS by 0.9% in the fourth quarter. Greenleaf Trust now owns 3,651 shares of the software maker’s stock valued at $1,232,000 after purchasing an additional 32 shares during the period. Koshinski Asset Management Inc. lifted its stake in shares of ANSYS by 0.8% during the fourth quarter. Koshinski Asset Management Inc. now owns 4,367 shares of the software maker’s stock worth $1,473,000 after purchasing an additional 34 shares in the last quarter. BTC Capital Management Inc. grew its stake in shares of ANSYS by 2.5% in the fourth quarter. BTC Capital Management Inc. now owns 1,499 shares of the software maker’s stock valued at $506,000 after buying an additional 36 shares in the last quarter. Finally, Summerhill Capital Management lnc. grew its stake in shares of ANSYS by 0.6% in the fourth quarter. Summerhill Capital Management lnc. now owns 6,139 shares of the software maker’s stock valued at $2,071,000 after buying an additional 36 shares in the last quarter. 92.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 200 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $336.62, for a total transaction of $67,324.00. Following the transaction, the director now owns 3,430 shares of the company’s stock, valued at approximately $1,154,606.60. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ANSS shares. StockNews.com cut ANSYS from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Rosenblatt Securities upped their target price on shares of ANSYS from $335.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, February 21st.

ANSYS Trading Down 1.0 %

NASDAQ:ANSS opened at $323.34 on Thursday. ANSYS, Inc. has a one year low of $289.82 and a one year high of $363.03. The business’s 50-day simple moving average is $336.23 and its 200 day simple moving average is $334.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.01 and a current ratio of 3.01. The stock has a market cap of $28.34 billion, a price-to-earnings ratio of 49.36, a price-to-earnings-growth ratio of 3.48 and a beta of 1.11.

ANSYS (NASDAQ:ANSS) last announced its earnings results on Wednesday, February 19th. The software maker reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.32). ANSYS had a net margin of 22.62% and a return on equity of 12.69%. The business had revenue of $882.17 million during the quarter, compared to analyst estimates of $864.46 million. As a group, sell-side analysts predict that ANSYS, Inc. will post 8.32 earnings per share for the current fiscal year.

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.