Riverbridge Partners buys $58,203,834 stake in ANSYS (ANSS)

ANSYS (ANSS) : Riverbridge Partners scooped up 148,714 additional shares in ANSYS during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 644,418 shares of ANSYS which is valued at $58,203,834.ANSYS makes up approximately 1.17% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in ANSS by selling 5,895 shares or 3.46% in the most recent quarter. The Hedge Fund company now holds 164,500 shares of ANSS which is valued at $14,857,640. ANSYS makes up approx 0.19% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in ANSS by selling 30,995 shares or 24.12% in the most recent quarter. The Hedge Fund company now holds 97,490 shares of ANSS which is valued at $8,711,706. ANSYS makes up approx 0.16% of Kornitzer Capital Management Inc Ks’s portfolio.Diversified Trust Co boosted its stake in ANSS in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 2,500 shares of ANSYS which is valued at $224,300. ANSYS makes up approx 0.03% of Diversified Trust Co’s portfolio.Parkwood reduced its stake in ANSS by selling 3,694 shares or 60.92% in the most recent quarter. The Hedge Fund company now holds 2,370 shares of ANSS which is valued at $213,300. ANSYS makes up approx 0.03% of Parkwood’s portfolio.Gw&k Investment Management boosted its stake in ANSS in the latest quarter, The investment management firm added 14,837 additional shares and now holds a total of 215,725 shares of ANSYS which is valued at $19,611,560. ANSYS makes up approx 0.40% of Gw&k Investment Management’s portfolio.

ANSYS opened for trading at $94 and hit $94.42 on the upside on Thursday, eventually ending the session at $92.8, with a gain of 2.75% or 2.48 points. The heightened volatility saw the trading volume jump to 10,70,755 shares. Company has a market cap of $8,170 M.

On the company’s financial health, ANSYS reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.88. The company had revenue of $246.10 million for the quarter, compared to analysts expectations of $244.86 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS.

Many Wall Street Analysts have commented on ANSYS. ANSYS was Initiated by Goldman to “Neutral” on May 26, 2016. Shares were Downgraded by Wedbush on May 6, 2016 to ” Neutral” and Lowered the Price Target to $ 86 from a previous price target of $91 .

ANSYS Inc. (ANSYS) develops and markets engineering simulation software and services. The Company offers the suite to engineers designers researchers and students and for industries and academia including aerospace automotive manufacturing electronics biomedical energy and defense. The Company’s product portfolio consists of ANSYS Workbench Structures Fluids Electronics Systems and Academic. ANSYS Workbench is the framework upon which the Company’s suite of engineering simulation technologies is built. The structures product suite offers simulation tools for product design and optimization. The fluids product suite enables modeling of fluid flow. The Company’s system simulation capability is to design automated products. The academic product suite provides a portfolio of academic products-based on usage tiers such as associate research and teaching.

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