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Ansys Inc ANSS

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Ansys Sees Solid Q3 Results With Continued Lease License Strength; Shares Overvalued, in Our View

Julie Bhusal Sharma Equity Analyst

Analyst Note

| Julie Bhusal Sharma |

Ansys' third-quarter results were solid--results were within guidance or just surpassing it, as non-GAAP EPS did. Lease license revenue remained strong, and so did renewal rates of maintenance contracts. While profitability continued to suffer amid the pandemic, management remained confident in improving overall outlook for the year. Even after factoring in better expectations for 2020, we are maintaining our fair value estimate for the wide-moat simulation standard at $225 per share. With shares trading at $330 per share, we continue to view Ansys as significantly overvalued even with our assumptions for continued healthy top-line growth and aggressive operating leverage over the next 10 years. 

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Company Profile

Business Description

Ansys is an engineering software company that provides simulation capabilities for structural, fluids, semiconductor power, embedded software, optical, and electromagnetic properties. Ansys employs over 4,000 people and serves over 50,000 customers globally, including those in aerospace defense and automotive.

2600 ANSYS Drive
Canonsburg, PA, 15317
T +1 844 462-6797
Sector Technology
Industry Software - Application
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Aggressive Growth
Employees 4,100