Sumitomo Life Insurance Co. Reduces Stock Position in ANSYS, Inc. (NASDAQ:ANSS)

Sumitomo Life Insurance Co. decreased its stake in shares of ANSYS, Inc. (NASDAQ:ANSS) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,269 shares of the software maker’s stock after selling 116 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in ANSYS were worth $2,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANSS. R Squared Ltd acquired a new position in shares of ANSYS during the 4th quarter valued at about $216,000. Buffington Mohr McNeal boosted its holdings in ANSYS by 7.8% in the 4th quarter. Buffington Mohr McNeal now owns 3,125 shares of the software maker’s stock valued at $1,054,000 after purchasing an additional 225 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of ANSYS by 49.6% in the 4th quarter. Pacer Advisors Inc. now owns 24,425 shares of the software maker’s stock valued at $8,239,000 after buying an additional 8,103 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of ANSYS during the 4th quarter worth approximately $4,270,000. Finally, Blue Trust Inc. raised its position in shares of ANSYS by 12.5% during the 4th quarter. Blue Trust Inc. now owns 2,909 shares of the software maker’s stock valued at $927,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 92.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ANSS. StockNews.com cut ANSYS from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. Robert W. Baird increased their target price on shares of ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $346.67.

Insider Activity

In related news, Director Glenda Dorchak sold 200 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $336.62, for a total transaction of $67,324.00. Following the completion of the transaction, the director now directly owns 3,430 shares of the company’s stock, valued at $1,154,606.60. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

ANSYS Stock Performance

NASDAQ ANSS opened at $350.23 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.11 and a quick ratio of 3.11. The company has a market cap of $30.63 billion, a P/E ratio of 54.05, a P/E/G ratio of 3.72 and a beta of 1.11. The stock has a 50-day moving average of $344.20 and a two-hundred day moving average of $329.19. ANSYS, Inc. has a 1-year low of $289.82 and a 1-year high of $363.03.

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.