Harvey Investment Co. LLC Lowers Position in ANSYS, Inc. (NASDAQ:ANSS)

Harvey Investment Co. LLC lessened its stake in ANSYS, Inc. (NASDAQ:ANSS) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 97,886 shares of the software maker’s stock after selling 2,145 shares during the period. ANSYS makes up approximately 3.8% of Harvey Investment Co. LLC’s holdings, making the stock its 6th largest holding. Harvey Investment Co. LLC’s holdings in ANSYS were worth $33,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameliora Wealth Management Ltd. purchased a new stake in ANSYS during the fourth quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. grew its position in shares of ANSYS by 2,833.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock valued at $56,000 after acquiring an additional 170 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of ANSYS in the 3rd quarter worth $70,000. Brooklyn Investment Group bought a new position in ANSYS in the 3rd quarter worth $119,000. Finally, Asset Dedication LLC lifted its position in ANSYS by 35.1% during the third quarter. Asset Dedication LLC now owns 385 shares of the software maker’s stock valued at $123,000 after purchasing an additional 100 shares in the last quarter. 92.39% of the stock is owned by institutional investors.

ANSYS Price Performance

NASDAQ:ANSS opened at $346.62 on Friday. The business’s 50-day simple moving average is $344.34 and its two-hundred day simple moving average is $330.51. ANSYS, Inc. has a 52 week low of $289.82 and a 52 week high of $363.03. The stock has a market cap of $30.31 billion, a PE ratio of 53.49, a P/E/G ratio of 3.65 and a beta of 1.12. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling

In other ANSYS news, Director Glenda Dorchak sold 200 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $336.62, for a total transaction of $67,324.00. Following the completion of the sale, the director now directly owns 3,430 shares of the company’s stock, valued at $1,154,606.60. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ANSS. Robert W. Baird upped their price target on ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of ANSYS from a “buy” rating to a “hold” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $346.67.

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.