ANSYS ( ANSS) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 1.4%. By the end of trading, ANSYS rose 71 cents (1.1%) to $62.50 on heavy volume. Throughout the day, 678,988 shares of ANSYS exchanged hands as compared to its average daily volume of 425,600 shares. The stock ranged in a price between $60.72-$62.84 after having opened the day at $60.94 as compared to the previous trading day's close of $61.79. Other companies within the Technology sector that increased today were: TII Network Technologies ( TIII), up 43.5%, Groupon ( GRPN), up 18.5%, Synacor ( SYNC), up 14.1%, and Ditech Networks Corporation ( DITC), up 9%. ANSYS, Inc. develops and markets engineering simulation software and technologies used by engineers, designers, researchers, and students in aerospace, automotive, manufacturing, electronics, biomedical, energy, and defense industries and academia worldwide. ANSYS has a market cap of $5.68 billion and is part of the computer software & services industry. The company has a P/E ratio of 30.5, below the average computer software & services industry P/E ratio of 31.4 and above the S&P 500 P/E ratio of 17.7. Shares are up 7.9% year to date as of the close of trading on Friday. Currently there are three analysts that rate ANSYS a buy, no analysts rate it a sell, and six rate it a hold. TheStreet Ratings rates ANSYS as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.
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