ANSYS, Inc. (ANSS, Financial) is a leading provider of physics-based simulation software.Despite an upbeat analyst day and results that exceeded analyst estimates, shares got caught up in the broader sell-off of software stocks. The risk that ANSYS’ customers will cut back on software purchases in a moderating macro environment, thus pressuring its large deals cadence and growth profile, also weighed on shares. Despite these short-term challenges, we think ANSYS will benefit from secular trends, differentiated products, and strategic customer relationships in the long term.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund third-quarter 2022 commentary.
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