Intrinsic value of Ansys - ANSS

Previous Close

$161.54

  Intrinsic Value

$112.15

stock screener

  Rating & Target

sell

-31%

Previous close

$161.54

 
Intrinsic value

$112.15

 
Up/down potential

-31%

 
Rating

sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of ANSS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.77
  12.20
  11.48
  10.83
  10.25
  9.72
  9.25
  8.83
  8.44
  8.10
  7.79
  7.51
  7.26
  7.03
  6.83
  6.65
  6.48
  6.33
  6.20
  6.08
  5.97
  5.88
  5.79
  5.71
  5.64
  5.57
  5.52
  5.47
  5.42
  5.38
  5.34
Revenue, $m
  988
  1,109
  1,236
  1,370
  1,510
  1,657
  1,810
  1,970
  2,136
  2,309
  2,489
  2,676
  2,870
  3,072
  3,282
  3,500
  3,727
  3,963
  4,209
  4,465
  4,732
  5,010
  5,300
  5,602
  5,918
  6,248
  6,593
  6,953
  7,330
  7,724
  8,136
Variable operating expenses, $m
 
  550
  598
  648
  701
  756
  814
  874
  936
  1,001
  1,069
  1,005
  1,078
  1,154
  1,233
  1,315
  1,400
  1,489
  1,581
  1,677
  1,778
  1,882
  1,991
  2,105
  2,223
  2,347
  2,477
  2,612
  2,754
  2,902
  3,057
Fixed operating expenses, $m
 
  113
  116
  118
  121
  124
  128
  131
  134
  137
  141
  144
  148
  152
  155
  159
  163
  167
  172
  176
  180
  185
  189
  194
  199
  204
  209
  214
  220
  225
  231
Total operating expenses, $m
  612
  663
  714
  766
  822
  880
  942
  1,005
  1,070
  1,138
  1,210
  1,149
  1,226
  1,306
  1,388
  1,474
  1,563
  1,656
  1,753
  1,853
  1,958
  2,067
  2,180
  2,299
  2,422
  2,551
  2,686
  2,826
  2,974
  3,127
  3,288
Operating income, $m
  376
  446
  522
  603
  688
  776
  869
  965
  1,066
  1,171
  1,280
  1,526
  1,644
  1,766
  1,894
  2,026
  2,164
  2,307
  2,456
  2,612
  2,774
  2,943
  3,119
  3,303
  3,496
  3,697
  3,907
  4,127
  4,356
  4,597
  4,849
EBITDA, $m
  446
  592
  670
  752
  839
  929
  1,023
  1,122
  1,224
  1,331
  1,442
  1,557
  1,677
  1,802
  1,931
  2,066
  2,206
  2,352
  2,504
  2,663
  2,828
  3,000
  3,180
  3,367
  3,563
  3,768
  3,982
  4,206
  4,440
  4,685
  4,942
Interest expense (income), $m
  1
  0
  3
  5
  8
  11
  14
  17
  21
  24
  28
  32
  36
  40
  44
  48
  53
  58
  63
  68
  73
  79
  85
  91
  97
  104
  111
  118
  126
  133
  142
Earnings before tax, $m
  380
  446
  520
  598
  680
  765
  855
  948
  1,045
  1,146
  1,252
  1,495
  1,609
  1,727
  1,850
  1,978
  2,111
  2,249
  2,394
  2,544
  2,701
  2,864
  3,035
  3,213
  3,399
  3,593
  3,796
  4,009
  4,231
  4,464
  4,707
Tax expense, $m
  114
  120
  140
  161
  183
  207
  231
  256
  282
  310
  338
  404
  434
  466
  499
  534
  570
  607
  646
  687
  729
  773
  819
  867
  918
  970
  1,025
  1,082
  1,142
  1,205
  1,271
Net income, $m
  266
  325
  379
  436
  496
  559
  624
  692
  763
  837
  914
  1,091
  1,174
  1,261
  1,350
  1,444
  1,541
  1,642
  1,747
  1,857
  1,971
  2,091
  2,215
  2,345
  2,481
  2,623
  2,771
  2,926
  3,089
  3,258
  3,436

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  823
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,801
  2,222
  2,477
  2,745
  3,026
  3,320
  3,628
  3,948
  4,281
  4,628
  4,988
  5,363
  5,752
  6,157
  6,577
  7,015
  7,469
  7,942
  8,435
  8,948
  9,482
  10,039
  10,620
  11,227
  11,860
  12,521
  13,212
  13,934
  14,689
  15,478
  16,305
Adjusted assets (=assets-cash), $m
  1,978
  2,222
  2,477
  2,745
  3,026
  3,320
  3,628
  3,948
  4,281
  4,628
  4,988
  5,363
  5,752
  6,157
  6,577
  7,015
  7,469
  7,942
  8,435
  8,948
  9,482
  10,039
  10,620
  11,227
  11,860
  12,521
  13,212
  13,934
  14,689
  15,478
  16,305
Revenue / Adjusted assets
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
Average production assets, $m
  256
  287
  320
  355
  391
  429
  469
  510
  553
  598
  645
  693
  743
  796
  850
  907
  965
  1,026
  1,090
  1,156
  1,225
  1,297
  1,373
  1,451
  1,533
  1,618
  1,707
  1,801
  1,898
  2,000
  2,107
Working capital, $m
  630
  -216
  -241
  -267
  -294
  -323
  -353
  -384
  -417
  -450
  -485
  -522
  -560
  -599
  -640
  -683
  -727
  -773
  -821
  -871
  -923
  -977
  -1,033
  -1,092
  -1,154
  -1,218
  -1,286
  -1,356
  -1,429
  -1,506
  -1,587
Total debt, $m
  0
  73
  150
  230
  315
  403
  495
  591
  691
  795
  903
  1,016
  1,133
  1,254
  1,380
  1,511
  1,648
  1,790
  1,937
  2,091
  2,252
  2,419
  2,593
  2,775
  2,965
  3,163
  3,370
  3,587
  3,814
  4,051
  4,298
Total liabilities, $m
  592
  666
  743
  823
  908
  996
  1,088
  1,184
  1,284
  1,388
  1,496
  1,609
  1,726
  1,847
  1,973
  2,104
  2,241
  2,383
  2,530
  2,684
  2,845
  3,012
  3,186
  3,368
  3,558
  3,756
  3,963
  4,180
  4,407
  4,644
  4,891
Total equity, $m
  2,208
  1,555
  1,734
  1,921
  2,118
  2,324
  2,539
  2,763
  2,997
  3,239
  3,492
  3,754
  4,027
  4,310
  4,604
  4,910
  5,228
  5,560
  5,904
  6,263
  6,638
  7,028
  7,434
  7,859
  8,302
  8,765
  9,248
  9,753
  10,282
  10,835
  11,413
Total liabilities and equity, $m
  2,800
  2,221
  2,477
  2,744
  3,026
  3,320
  3,627
  3,947
  4,281
  4,627
  4,988
  5,363
  5,753
  6,157
  6,577
  7,014
  7,469
  7,943
  8,434
  8,947
  9,483
  10,040
  10,620
  11,227
  11,860
  12,521
  13,211
  13,933
  14,689
  15,479
  16,304
Debt-to-equity ratio
  0.000
  0.050
  0.090
  0.120
  0.150
  0.170
  0.200
  0.210
  0.230
  0.250
  0.260
  0.270
  0.280
  0.290
  0.300
  0.310
  0.320
  0.320
  0.330
  0.330
  0.340
  0.340
  0.350
  0.350
  0.360
  0.360
  0.360
  0.370
  0.370
  0.370
  0.380
Adjusted equity ratio
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  266
  325
  379
  436
  496
  559
  624
  692
  763
  837
  914
  1,091
  1,174
  1,261
  1,350
  1,444
  1,541
  1,642
  1,747
  1,857
  1,971
  2,091
  2,215
  2,345
  2,481
  2,623
  2,771
  2,926
  3,089
  3,258
  3,436
Depreciation, amort., depletion, $m
  70
  146
  148
  149
  151
  153
  154
  156
  158
  160
  162
  31
  33
  35
  37
  40
  43
  45
  48
  51
  54
  57
  60
  64
  68
  71
  75
  79
  84
  88
  93
Funds from operations, $m
  362
  472
  527
  586
  647
  711
  778
  848
  921
  997
  1,076
  1,122
  1,207
  1,296
  1,388
  1,484
  1,583
  1,687
  1,795
  1,908
  2,025
  2,148
  2,276
  2,409
  2,549
  2,694
  2,846
  3,006
  3,172
  3,346
  3,529
Change in working capital, $m
  5
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -32
  -34
  -35
  -36
  -38
  -39
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
  -57
  -59
  -62
  -64
  -67
  -70
  -73
  -77
  -80
Cash from operations, $m
  357
  495
  552
  612
  674
  740
  808
  879
  954
  1,031
  1,111
  1,158
  1,245
  1,335
  1,429
  1,526
  1,628
  1,733
  1,843
  1,958
  2,077
  2,202
  2,332
  2,468
  2,610
  2,758
  2,914
  3,076
  3,246
  3,423
  3,609
Maintenance CAPEX, $m
  0
  -11
  -13
  -14
  -16
  -17
  -19
  -21
  -22
  -24
  -26
  -28
  -31
  -33
  -35
  -37
  -40
  -43
  -45
  -48
  -51
  -54
  -57
  -60
  -64
  -68
  -71
  -75
  -79
  -84
  -88
New CAPEX, $m
  -12
  -32
  -33
  -35
  -36
  -38
  -40
  -41
  -43
  -45
  -47
  -48
  -50
  -52
  -54
  -57
  -59
  -61
  -64
  -66
  -69
  -72
  -75
  -78
  -82
  -85
  -89
  -93
  -98
  -102
  -107
Cash from investing activities, $m
  -32
  -43
  -46
  -49
  -52
  -55
  -59
  -62
  -65
  -69
  -73
  -76
  -81
  -85
  -89
  -94
  -99
  -104
  -109
  -114
  -120
  -126
  -132
  -138
  -146
  -153
  -160
  -168
  -177
  -186
  -195
Free cash flow, $m
  325
  452
  506
  563
  622
  685
  750
  817
  888
  962
  1,038
  1,081
  1,164
  1,250
  1,339
  1,432
  1,529
  1,630
  1,734
  1,844
  1,957
  2,076
  2,200
  2,329
  2,464
  2,606
  2,753
  2,907
  3,069
  3,238
  3,414
Issuance/(repayment) of debt, $m
  0
  73
  77
  80
  84
  88
  92
  96
  100
  104
  108
  112
  117
  121
  126
  131
  136
  142
  148
  154
  160
  167
  174
  182
  190
  198
  207
  217
  227
  237
  248
Issuance/(repurchase) of shares, $m
  -283
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -279
  73
  77
  80
  84
  88
  92
  96
  100
  104
  108
  112
  117
  121
  126
  131
  136
  142
  148
  154
  160
  167
  174
  182
  190
  198
  207
  217
  227
  237
  248
Total cash flow (excl. dividends), $m
  38
  526
  583
  643
  707
  773
  842
  913
  988
  1,066
  1,146
  1,194
  1,281
  1,371
  1,465
  1,563
  1,665
  1,772
  1,882
  1,997
  2,118
  2,243
  2,374
  2,511
  2,654
  2,804
  2,960
  3,124
  3,295
  3,475
  3,662
Retained Cash Flow (-), $m
  -14
  -170
  -179
  -188
  -197
  -206
  -215
  -224
  -233
  -243
  -252
  -262
  -273
  -283
  -294
  -306
  -318
  -331
  -345
  -359
  -374
  -390
  -407
  -424
  -443
  -463
  -484
  -505
  -529
  -553
  -578
Prev. year cash balance distribution, $m
 
  823
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,179
  404
  456
  510
  567
  627
  689
  755
  823
  894
  932
  1,008
  1,088
  1,171
  1,257
  1,347
  1,440
  1,537
  1,638
  1,744
  1,853
  1,968
  2,087
  2,211
  2,341
  2,477
  2,619
  2,767
  2,922
  3,084
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  1,130
  370
  397
  420
  439
  455
  466
  472
  473
  469
  442
  430
  414
  393
  369
  342
  313
  283
  252
  222
  192
  163
  137
  113
  91
  72
  56
  43
  32
  23
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

ANSYS, Inc. (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors. The Company focuses on the development of open and flexible solutions that enable users to analyze designs directly on the desktop, providing a common platform for product development, from design concept to final-stage testing and validation. The Company distributes its ANSYS suite of simulation technologies through a network of independent resellers and distributors, and direct sales offices in various locations. Its product portfolio consists of Simulation Platform: ANSYS Workbench, Structures, Fluids, Electronics, Semiconductors, Multiphysics, AIM, Embedded Software, Systems, Three Dimensional (3-D) Direct Modeling and Academic.

FINANCIAL RATIOS  of  Ansys (ANSS)

Valuation Ratios
P/E Ratio 52
Price to Sales 14
Price to Book 6.3
Price to Tangible Book
Price to Cash Flow 38.8
Price to Free Cash Flow 40.1
Growth Rates
Sales Growth Rate 4.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -25%
Cap. Spend. - 3 Yr. Gr. Rate -16.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 381
Management Effectiveness
Return On Assets 9.6%
Ret/ On Assets - 3 Yr. Avg. 9.4%
Return On Total Capital 12.1%
Ret/ On T. Cap. - 3 Yr. Avg. 11.8%
Return On Equity 12.1%
Return On Equity - 3 Yr. Avg. 11.8%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 85.2%
Gross Margin - 3 Yr. Avg. 84.4%
EBITDA Margin 45.6%
EBITDA Margin - 3 Yr. Avg. 46%
Operating Margin 38.1%
Oper. Margin - 3 Yr. Avg. 37.6%
Pre-Tax Margin 38.5%
Pre-Tax Margin - 3 Yr. Avg. 37.8%
Net Profit Margin 26.9%
Net Profit Margin - 3 Yr. Avg. 27%
Effective Tax Rate 30%
Eff/ Tax Rate - 3 Yr. Avg. 28.6%
Payout Ratio 0%

ANSS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ANSS stock intrinsic value calculation we used $988 million for the last fiscal year's total revenue generated by Ansys. The default revenue input number comes from 2016 income statement of Ansys. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ANSS stock valuation model: a) initial revenue growth rate of 12.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ANSS is calculated based on our internal credit rating of Ansys, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ansys.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ANSS stock the variable cost ratio is equal to 51.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $110 million in the base year in the intrinsic value calculation for ANSS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Ansys.

Corporate tax rate of 27% is the nominal tax rate for Ansys. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ANSS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ANSS are equal to 25.9%.

Life of production assets of 22.7 years is the average useful life of capital assets used in Ansys operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ANSS is equal to -19.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2208 million for Ansys - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 84.897 million for Ansys is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ansys at the current share price and the inputted number of shares is $13.7 billion.

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COMPANY NEWS

▶ ANSYS Announces Winners of 2018 Hall of Fame Competition   [Jan-09-18 07:05AM  PR Newswire]
▶ Dr. Alec Gallimore Named to ANSYS Board of Directors   [Dec-19-17 08:29AM  GlobeNewswire]
▶ Ansys Shows Rising Price Performance With Jump To 91 RS Rating   [03:00AM  Investor's Business Daily]
▶ ETFs with exposure to ANSYS, Inc. : December 11, 2017   [Dec-11-17 01:27PM  Capital Cube]
▶ What Do Analysts Think About Ansys Incs (ANSS) Growth?   [Dec-01-17 09:50AM  Simply Wall St.]
▶ ETFs with exposure to ANSYS, Inc. : November 30, 2017   [Nov-30-17 01:19PM  Capital Cube]
▶ Is It Time To Sell Ansys Inc (ANSS) Based Off Its PE Ratio?   [Nov-16-17 06:37PM  Simply Wall St.]
▶ ETFs with exposure to ANSYS, Inc. : November 6, 2017   [Nov-06-17 11:04AM  Capital Cube]
▶ Ansys: S&P 500s Top Gainer on November 2   [09:10AM  Market Realist]
▶ Stocks Showing Market Leadership: Ansys Earns 92 RS Rating   [03:00AM  Investor's Business Daily]
▶ The Hot Stock: Ansys Soars 10%   [Nov-02-17 04:26PM  Barrons.com]
▶ Ansys tops Street 3Q forecasts   [Nov-01-17 05:10PM  Associated Press]
▶ More room to run for software stocks like Adobe   [Oct-31-17 07:05PM  CNBC Videos]
▶ Is It Time To Buy Ansys Inc (ANSS)?   [Oct-27-17 02:41PM  Simply Wall St.]
▶ ETFs with exposure to ANSYS, Inc. : September 20, 2017   [Sep-19-17 11:20PM  Capital Cube]
▶ TSMC and ANSYS Enable Automotive Reliability Solutions   [Sep-14-17 07:20AM  PR Newswire]
▶ ANSYS to Host Investor Day on September 14, 2017   [Sep-13-17 01:09PM  GlobeNewswire]
▶ ANSYS 18.2 Enhances Simulation Speed and Accuracy   [Aug-22-17 07:20AM  PR Newswire]
▶ ETFs with exposure to ANSYS, Inc. : August 17, 2017   [Aug-17-17 03:10PM  Capital Cube]
▶ Ansys beats Street 2Q forecasts   [Aug-02-17 10:46PM  Associated Press]
▶ ETFs with exposure to ANSYS, Inc. : July 24, 2017   [Jul-24-17 02:01PM  Capital Cube]
▶ ETFs with exposure to ANSYS, Inc. : July 14, 2017   [Jul-14-17 12:48PM  Capital Cube]
▶ ANSYS Acquires Computational Engineering International   [Jul-11-17 07:10AM  PR Newswire]
▶ ANSYS, Inc. Value Analysis (NASDAQ:ANSS) : July 3, 2017   [Jul-03-17 04:08PM  Capital Cube]
▶ ANSYS Appoints Janet Lee as General Counsel   [Jun-20-17 08:12AM  PR Newswire]
▶ ETFs with exposure to ANSYS, Inc. : June 2, 2017   [Jun-02-17 01:51PM  Capital Cube]
▶ ETFs with exposure to ANSYS, Inc. : May 22, 2017   [May-22-17 01:20PM  Capital Cube]
▶ ANSYS 18.1 Expands Pervasive Engineering Simulation   [May-16-17 07:10AM  PR Newswire]
▶ Highly Rated Software Stock Engineers New Breakout   [May-05-17 11:15AM  Investor's Business Daily]
▶ Ansys tops Street 1Q forecasts   [May-03-17 05:42PM  Associated Press]
Financial statements of ANSS
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