In a recent transaction, Glenda Dorchak, a director at ANSYS Inc (NASDAQ:ANSS), sold 150 shares of the company's common stock at a price of $342.08 per share. The total value of the shares sold by Dorchak amounted to approximately $51,312.
The transaction, dated April 8, 2024, was reported in a Form 4 filing with the Securities and Exchange Commission. Following this sale, Dorchak's remaining ownership in ANSYS Inc includes 3,049 shares of common stock, of which 967 are Restricted Stock Units.
Investors often monitor insider transactions as they can provide insights into how the company's leadership views the stock's current valuation and future prospects. It is worth noting that the shares were sold pursuant to an effective Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information.
ANSYS Inc specializes in prepackaged software services and is based in Canonsburg, Pennsylvania. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol ANSS.
InvestingPro Insights
Following the recent insider transaction at ANSYS Inc (NASDAQ:ANSS), where director Glenda Dorchak sold shares, investors might be interested in the company's current financial health and market performance. ANSYS, known for its sophisticated simulation software, has been observed by analysts who have revised their earnings upwards for the upcoming period, indicating potential optimism about the company's future performance.
InvestingPro Data highlights ANSYS's strong market position with a market capitalization of 29.98 billion USD, reflecting its significant presence in the software industry. The company has reported a robust gross profit margin of 91.62% for the last twelve months as of Q1 2023, a testament to its effective cost management and premium product offerings. Moreover, ANSYS's revenue growth has been positive, with a 9.9% increase over the last twelve months, signaling steady business expansion.
One of the InvestingPro Tips for ANSYS is its impressive gross profit margins, which have likely contributed to its substantial operating income margin of 27.58% for the same period. This financial metric showcases the company's ability to translate sales into profits, which is crucial for long-term sustainability and investor confidence. Additionally, ANSYS operates with a moderate level of debt, suggesting a balanced approach to leveraging and financial prudence.
Investors interested in a deeper dive into ANSYS's financials and performance can explore more InvestingPro Tips, with a total of 14 available at Investing.com/pro/ANSS. By using the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further insights that could help in making more informed investment decisions.
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