ANSYS, Inc. (ANSS, Financial) 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.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund first-quarter 2021 shareholder letter.
