Glenda Dorchak, director ANSYS Inch. (NASDAQ:ANSS), recently sold 200 shares of the company’s stock. The shares were sold at a price of $336.62 each, for a total transaction value of $67,324. After this transaction, Dorchak holds 3,430 shares in the company, which includes 922 restricted shares. The sale was made pursuant to an effective Rule 10b5-1 plan. The transaction comes as ANSYS, a $29.65 billion market cap company, is trading near its 52-week high with an impressive gross profit margin of 92.31%. InvestingPro analysis shows that the stock is currently fairly valued, with 13 additional expert tips available to subscribers covering key metrics such as earnings multiples and financial health indicators.
In other recent news, Synopsys (NASDAQ: ) is expected to receive approval from EU antitrust regulators for its $35 billion acquisition of Ansys (NASDAQ: ), a chip design software company. This follows Synopsys’ commitment to divest two of its assets, Optical Solutions Group and Ansys PowerArtist, to ease competition concerns in the EU. Meanwhile, the UK’s Competition and Markets Authority (CMA) said it could accept remedies offered by both companies, including the sale of certain product lines.
In a recent collaboration, Ansys, Cognata and Microsoft (NASDAQ:) announced the integration of Ansys’ AVxcelerate sensor simulation software into the Automated Driving Perception Hub (ADPH), a platform for testing and validating automotive sensors used in advanced driver assistance systems and autonomous vehicles . This collaboration aims to simplify the safety verification process for an industry moving towards fully autonomous driving.
In financial news, Ansys reported an 18% year-over-year increase in its annual contract value (ACV), beating Baird’s estimates by 5% and the consensus by 7%. In response to these strong results, Baird raised Ansys’ price target to $365. All of these recent developments underscore Synopsys and Ansys’ commitment to overcoming regulatory hurdles and driving growth through strategic partnerships and strong financial results.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
