Alps Advisors Inc. acquired a new position in Aspen Technology, Inc. (NASDAQ:AZPN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,285 shares of the technology company’s stock, valued at approximately $458,000.
A number of other institutional investors have also bought and sold shares of AZPN. First Manhattan Co. bought a new stake in shares of Aspen Technology in the third quarter worth about $125,000. Paradigm Asset Management Co. LLC acquired a new position in Aspen Technology during the second quarter valued at approximately $138,000. Pacad Investment Ltd. acquired a new stake in shares of Aspen Technology in the second quarter valued at approximately $166,000. Advisor Group Inc. lifted its position in shares of Aspen Technology by 69.9% in the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock valued at $173,000 after buying an additional 1,296 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Aspen Technology by 12.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock worth $183,000 after purchasing an additional 357 shares during the period.
AZPN has been the topic of a number of recent research reports. Bank of America began coverage on Aspen Technology in a research note on Monday, November 6th. They set a “neutral” rating and a $67.00 price objective on the stock. Zacks Investment Research downgraded Aspen Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Canaccord Genuity raised their price objective on Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 27th. Robert W. Baird set a $63.00 target price on Aspen Technology and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, Berenberg Bank assumed coverage on Aspen Technology in a report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $63.63.
Shares of Aspen Technology, Inc. (NASDAQ:AZPN) traded up $0.19 during trading on Wednesday, reaching $66.76. The company had a trading volume of 262,515 shares, compared to its average volume of 500,307. The company has a market cap of $4,834.49, a price-to-earnings ratio of 31.00 and a beta of 1.23. Aspen Technology, Inc. has a twelve month low of $52.23 and a twelve month high of $69.38.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. The firm had revenue of $122.80 million during the quarter, compared to analyst estimates of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. research analysts forecast that Aspen Technology, Inc. will post 1.77 EPS for the current year.
In other news, Director Jr. Robert M. Whelan sold 10,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total value of $660,100.00. Following the transaction, the director now owns 25,559 shares of the company’s stock, valued at $1,687,149.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Karl E. Johnsen sold 2,619 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $64.41, for a total transaction of $168,689.79. Following the completion of the transaction, the insider now directly owns 40,063 shares in the company, valued at approximately $2,580,457.83. The disclosure for this sale can be found here. Insiders sold a total of 14,197 shares of company stock worth $931,360 in the last 90 days. Company insiders own 0.80% of the company’s stock.
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About Aspen Technology
Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.
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