Michael Weisberg’s Crestwood Capital Management’s Top 5 Stocks

In this article, we discuss Michael Weisberg’s Crestwood Capital Management’s top 5 stocks. If you want our detailed analysis of Michael Weisberg’s history, investment philosophy, and hedge fund performance, go directly to Michael Weisberg’s Crestwood Capital Management’s Top 10 Stocks.

5. ANSYS, Inc. (NASDAQ:ANSS)

Crestwood Capital Management’s Stake Value: $17,336,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 6.50%

Number of Hedge Fund Holders: 46

ANSYS, Inc. (NASDAQ:ANSS), a top stock in Michael Weisberg’s portfolio for the second quarter, is a Pennsylvania-based software company that offers engineering simulation software that facilitates design and testing of new products. Crestwood Capital Management owns 49,952 shares in ANSYS, Inc. (NASDAQ:ANSS), worth $17.3 million, representing 6.50% of the firm’s Q2 portfolio. 

As of the second quarter of 2021, 46 hedge funds reported owning stakes in ANSYS, Inc. (NASDAQ:ANSS), up from 33 in the preceding quarter. 

On November 3, ANSYS, Inc. (NASDAQ:ANSS) reported earnings for the third quarter. The Q3 EPS came in at $1.59, beating estimates by $0.24. 

Matthew Hedberg from RBC Capital on November 5 raised the price target on ANSYS, Inc. (NASDAQ:ANSS) from $380 to $425, keeping a Sector Perform rating on the stock. He stated that the Q3 earnings were strong, and the improving SMB segment is a plus, but Hedberg’s neutral stance on ANSYS, Inc. (NASDAQ:ANSS) was a result of the stock’s present valuation. 

Here is what Baron Growth Fund has to say about ANSYS, Inc. (NASDAQ:ANSS) in its Q1 2021 investor letter:

“ANSYS, Inc. is a leading provider of physics-based simulation software used to evaluate how products will perform under various scenarios. Shares fell amid a broader market correction in software valuations after a robust 2020. We retain conviction as ANSYS presented strong growth with large accounts and resiliency in its core business throughout 2020, supported by its diversified customer base and focus on secular growth initiatives.”