Aristotle Capital Management, LLC, an investment management company, released its “Value Equity Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 3.88% gross of fees (3.82% net of fees), outperforming the Russell 1000 Value Index’s 1.01% and underperforming the S&P 500 Index’s 7.5% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Capital Value Equity Strategy highlighted stocks like ANSYS, Inc. (NASDAQ:ANSS) in the first quarter 2023 investor letter. Headquartered in Canonsburg, Pennsylvania, ANSYS, Inc. (NASDAQ:ANSS) is an engineering simulation software developer. On June 20, 2023, ANSYS, Inc. (NASDAQ:ANSS) stock closed at $331.31 per share. One-month return of ANSYS, Inc. (NASDAQ:ANSS) was 10.90%, and its shares gained 40.64% of their value over the last 52 weeks. ANSYS, Inc. (NASDAQ:ANSS) has a market capitalization of $28.712 billion.
Aristotle Capital Value Equity Strategy made the following comment about ANSYS, Inc. (NASDAQ:ANSS) in its first quarter 2023 investor letter:
“ANSYS, Inc. (NASDAQ:ANSS), an industry leader in engineering simulation software, was the top contributor during the quarter. The company reported strong results, with its annual contract value (ACV) advancing 14% to $2 billion in 2022, supported by broad‐based growth across all major industries and geographies. This, in our opinion, exemplifies the significant value ANSYS’s software provides, enabling its customers (that include automotive, aerospace, consumer goods, energy and health care firms) to save time and money by testing products before the design process is complete. The applications for ANSYS’s software suite have expanded over the years, as even the simplest products have increased in complexity, continuously elevating the need for simulation. Meanwhile, the market for ANSYS products remains underpenetrated, with only a fraction of design engineers currently utilizing simulation software. Given the scale of its user base, high switching costs, network effects, technological leadership and overall reputation across many disciplines (from fluid dynamics to electromagnetics), we believe the company is uniquely positioned to further increase its market share, as simulation becomes more ubiquitous across industries and product types.”
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ANSYS, Inc. (NASDAQ:ANSS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held ANSYS, Inc. (NASDAQ:ANSS) at the end of the first quarter 2023 which was 37 in the previous quarter.
We discussed ANSYS, Inc. (NASDAQ:ANSS) in another article and shared Baron Focused Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
