Why Ansys Shares Gained 16% Last Month
Shares of engineering simulation specialist Ansys (NASDAQ: ANSS) rose 15.7% in November, according to data from S&P Global Market Intelligence. The month started with a fantastic third-quarter earnings report, followed by bullish analyst reports and a promising partnership with industrial tooling manufacturer Rockwell Automation (NYSE: ROK).
In the third quarter, Ansys saw revenue rise 18% year over year to land at $346 million. Adjusted earnings increased by 8% to $1.42 per diluted share. The analyst consensus had been aimed at earnings near $1.26 per share on sales in the neighborhood of $334 million. It was no surprise to see Ansys' stock price rise after that report, further accelerated by a plethora of rosy analyst reports inspired by the strong earnings performance.
Near the end of November, Ansys also struck up a strategic partnership with Rockwell Automation that promises to streamline the digital twinning process for shared clients. This deal hooks Ansys' modeling platforms directly into Rockwell's manufacturing systems.
Source Fool.com
