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Rosenblatt Securities Keeps a Hold Rating on Ansys (ANSS)

Rosenblatt Securities analyst Blair Abernethy maintained a Hold rating on Ansys (ANSSResearch Report) today and set a price target of $285.00. The company’s shares closed last Wednesday at $257.08, close to its 52-week low of $225.92.

According to TipRanks.com, Abernethy is a 1-star analyst with an average return of -4.3% and a 39.8% success rate. Abernethy covers the Technology sector, focusing on stocks such as Manhattan Associates, Altair Engineering, and Cadence Design.

The word on The Street in general, suggests a Hold analyst consensus rating for Ansys with a $307.00 average price target, a 22.9% upside from current levels. In a report issued on July 19, Mizuho Securities also maintained a Hold rating on the stock with a $265.00 price target.

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Based on Ansys’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $425 million and net profit of $70.99 million. In comparison, last year the company earned revenue of $363 million and had a net profit of $72.4 million.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ANSS in relation to earlier this year.

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Incorporated in 1970, Pennsylvania-based ANSYS, Inc. develops and markets engineering simulation software and services. The company serves customers in the aerospace and defense, automotive, electronics, semiconductors, energy, materials and chemical processing, turbomachinery, consumer products, healthcare, and sports industries.

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