Ansys Inc (ANSS): Today's Featured Computer Software & Services Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Ansys ( ANSS) pushed the Computer Software & Services industry lower today making it today's featured Computer Software & Services laggard. The industry as a whole closed the day up 0.5%. By the end of trading, Ansys fell $3.82 (-5.0%) to $72.49 on heavy volume. Throughout the day, 1,002,414 shares of Ansys exchanged hands as compared to its average daily volume of 531,600 shares. The stock ranged in price between $71.50-$75.54 after having opened the day at $75.54 as compared to the previous trading day's close of $76.31. Other companies within the Computer Software & Services industry that declined today were: Stamps.com ( STMP), down 16.1%, LifeLock ( LOCK), down 7.6%, Intelligent Systems ( INS), down 6.3% and Unwired Planet ( UPIP), down 5.7%.

ANSYS, Inc. develops and markets engineering simulation software and services used by engineers, designers, researchers, and students in the aerospace, automotive, manufacturing, electronics, biomedical, energy, and defense industries, as well as academia worldwide. Ansys has a market cap of $7.1 billion and is part of the technology sector. The company has a P/E ratio of 29.4, above the S&P 500 P/E ratio of 17.7. Shares are down 12.6% year to date as of the close of trading on Wednesday. Currently there are 4 analysts that rate Ansys a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Ansys as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

On the positive front, Proofpoint ( PFPT), up 13.8%, Catamaran ( CTRX), up 12.6%, Demandware ( DWRE), up 11.2% and Jive Software ( JIVE), up 10.3% , were all gainers within the computer software & services industry with Adobe Systems ( ADBE) being today's featured computer software & services industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the computer software & services industry could consider iShares S&P NA Tech Software Idx ( IGV) while those bearish on the computer software & services industry could consider ProShares Ultra Short Technology ( REW).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

More from Markets

Stocks Dip on Hawkish Fed Minutes, Bond Yields Rise as Powell Faces Down Trump

Stocks Dip on Hawkish Fed Minutes, Bond Yields Rise as Powell Faces Down Trump

Facebook, Fed Minutes, AmEx, PayPal and Endocyte - 5 Things You Must Know

Facebook, Fed Minutes, AmEx, PayPal and Endocyte - 5 Things You Must Know

TSMC Posts Modest Q3 Profit Decline, Issues Cautiously Optimistic 2018 Guidance

TSMC Posts Modest Q3 Profit Decline, Issues Cautiously Optimistic 2018 Guidance

SAP Slides as Margin Disappointment Overshadows Bullish Cloud Sales Outlook

SAP Slides as Margin Disappointment Overshadows Bullish Cloud Sales Outlook

U.S. Steel Workers Set to Get Wage Hikes Amid Tariffs

U.S. Steel Workers Set to Get Wage Hikes Amid Tariffs