Pacific Crest Reiterates a Hold Rating on Ansys

By Carrie Williams

In a report released yesterday, Jason Celino from Pacific Crest reiterated a Hold rating on Ansys (NASDAQ: ANSS). The company’s shares closed yesterday at $83.49, close to its 52-week low of $80.51.

Celino wrote:

“We see limited upside in ANSS and prefer investments in PTC and ADSK. Misses Q3 revenue, guides Q4 and C2017 lower. ANSYS reported Q3 revenue below estimates, but beat EPS due to expense management and a lower tax rate. ANSYS lowered Q4 and 2016 guidance, and in line with our preview, also issued initial 2017 guidance that is below expectations. In the past five quarters, ANSYS has provided lower yearly guidance four times.”

According to TipRanks.com, Celino is a 1-star analyst with an average return of -7.1% and a 25.0% success rate. Celino covers the Technology sector, focusing on stocks such as Mentor Graphics, Cadence Design, and ChannelAdvisor.

Ansys has an analyst consensus of Moderate Sell.

Ansys’ market cap is currently $7.28B and has a P/E ratio of 28.99. The company has a book value ratio of 3.2546.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANSS in relation to earlier this year. Most recently, in May 2016, Michael Thurk, a Director at ANSS bought 4,000 shares for a total of $146,720.

ANSYS, Inc. develops and markets engineering simulation software and services. It used by engineers, designers, researchers and students across industries and academia, including aerospace, automotive, materials and chemical processing, turbomachinery, consumer products, electronics, biomedical, energy, defense and others. Its product portfolio includes ANSYS Workbench, ANSYS Engineering Knowledge Management, computing product suite, geometry handling solutions, and meshing technology. The company was founded by John A. Swanson in 1970 and is headquartered in Canonsburg, PA.