13 Best Software Stocks to Buy Now

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4. ANSYS, Inc. (NASDAQ:ANSS)

1-Year Return as of June 16: 3.59%

Number of Hedge Fund Holders: 74

ANSYS, Inc. (NASDAQ:ANSS) is one of the 13 best software stocks to buy now. On June 13, the company suffered a significant blow in its proposed $35 billion merger with Synopsys, Inc. (NASDAQ:SNPS). China’s Market regulator postponed its approval of the deal in response to the US tightening chip export controls against the country.

China’s State Administration for Market Regulation (SAMR) had set a 180-day timeline for approving the deal but has since postponed it. However, the deal has already secured the US and EU green light.

China’s action follows the US administration imposing additional export controls on shipments of semiconductor design software and jet engines for Chinese-made planes. President Donald Trump’s administration’s move to ban chip design software sales by companies, including Synopsys, appears to have rattled Chinese regulators.

Synopsys has already received an order from the US Commerce Department Bureau of Industry and Security to cease all sales and services in China. Nevertheless, the $35 billion deal could still secure regulatory approval in China if Synopsys submits a proposal that addresses regulators’ concerns.

ANSYS, Inc. (NASDAQ:ANSS) is a software application company that develops and markets engineering simulation software. It provides tools for simulating how products will behave in the real world, helping engineers design and improve products, optimize workflows, and make better decisions.

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