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Fly News Breaks for September 12, 2019
ANSS
Sep 12, 2019 | 12:55 EDT
JPMorgan analyst Jackson Ader says the biggest news from Ansys' analyst day came during the financial outlook when CFO Maria Shields laid out annual contract value growth expectations of 11% through 2022 with margins in the 42%-44% range. This is an increase from the double-digit organic growth that was the target from 2017-2020, but the margin profile is below the previous range, Ader tells investors in a research note. He believes growth continues to be Ansys' top priority with investments being increased to drive it. The analyst keeps a Neutral rating on the shares. The stock in afternoon trading is down 1.5% to $211.39.