Ansys (ANSS) Receives a Buy from Needham

By Austin Angelo

Needham analyst Richard Valera maintained a Buy rating on Ansys (ANSSResearch Report) today and set a price target of $220.00. The company’s shares closed last Monday at $218.73, close to its 52-week high of $229.20.

According to TipRanks.com, Valera is a 5-star analyst with an average return of 8.9% and a 61.3% success rate. Valera covers the Consumer Goods sector, focusing on stocks such as Trimble Navigation, Cadence Design, and Audiocodes.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ansys with a $230.00 average price target.

See today’s analyst top recommended stocks >>

Based on Ansys’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $110 million. In comparison, last year the company had a net profit of $89.34 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ANSYS, Inc. engages in the development and marketing of engineering simulation software and services. 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.