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Fly News Breaks for September 14, 2017
ANSS
Sep 14, 2017 | 15:36 EDT
JPMorgan analyst Sterling Auty notes that the financial section of ANSYS analyst day outlined how the company expects to invest more to accelerate growth taking down margins, and that the new ASC 606 accounting rules will increase the volatility of reported results starting in 2018. The analyst also points out that the CFO presentation outlines a 2020 target to get top line growth back to over 10%, but at operating margins that are in the 43%-45% range as compared to the 48.3% shown in the June quarter. Auty reiterates an Underweight rating on the shares.