PITTSBURGH, Feb. 21, 2018 (GLOBE NEWSWIRE) -- ANSYS, Inc. (NASDAQ:ANSS) today announced that its Board of Directors has replenished its authorized share repurchase program to an aggregate total of five million shares. This program will allow ANSYS to continue to offset dilution and reduce shares outstanding.
“The replenishing of our stock repurchase authorization demonstrates our continued confidence in ANSYS’ long-term strategy to generate profitable growth and strong cash flows, as well as our commitment to share repurchases as an important element of our capital allocation. Our first priority is to continue to invest in the business to capitalize on growth opportunities in existing and potential future markets around the world. At the same time, ANSYS’ solid financial performance, and the strength of our balance sheet, gives us both the confidence and the flexibility to execute this share repurchase program,” said Ajei Gopal, president and chief executive officer.
The repurchase program does not have an expiration date. Share repurchases may be made by the Company from time to time in open market transactions at prevailing market prices. The actual timing, number and value of shares repurchased under the program will be determined by management in its discretion and will depend on a number of factors, including, among others, cash requirements for acquisitions, general market and business conditions, the trading price of the stock, and applicable legal and regulatory requirements. The Company has no obligation to repurchase any shares under the authorization, and the repurchase program may be suspended or modified at any time for any reason.
In FY 2017, ANSYS repurchased 2.8 million shares of its common stock at an average price of $122.20. In FY 2016, ANSYS repurchased 3.7 million shares of its common stock at an average price of $90.90.
ANSYS Replenishes Authorized Share Repurchase Program to Five Million Shares Nasdaq:ANSS
