Aspen Technology, Inc. (AZPN) Holdings Trimmed by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC trimmed its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 19.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,104 shares of the technology company’s stock after selling 5,414 shares during the period. Cubist Systematic Strategies LLC’s holdings in Aspen Technology were worth $1,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Aspen Technology by 15.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,984,783 shares of the technology company’s stock valued at $250,285,000 after acquiring an additional 543,592 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Aspen Technology by 20.9% during the second quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock worth $130,441,000 after buying an additional 408,200 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of Aspen Technology by 14.1% during the third quarter. Pictet Asset Management Ltd. now owns 1,837,321 shares of the technology company’s stock worth $115,402,000 after buying an additional 227,609 shares during the period. State Street Corp lifted its stake in shares of Aspen Technology by 1.7% during the second quarter. State Street Corp now owns 1,599,490 shares of the technology company’s stock worth $88,389,000 after buying an additional 27,307 shares during the period. Finally, Koch Industries Inc. lifted its stake in shares of Aspen Technology by 8,875.5% during the second quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock worth $1,164,000 after buying an additional 1,171,746 shares during the period.

AZPN has been the subject of several research reports. Canaccord Genuity lifted their price objective on shares of Aspen Technology from $62.00 to $63.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. Robert W. Baird set a $63.00 price objective on shares of Aspen Technology and gave the stock a “hold” rating in a research note on Friday, October 6th. Berenberg Bank initiated coverage on shares of Aspen Technology in a research note on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, October 31st. Finally, BidaskClub downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Aspen Technology currently has an average rating of “Hold” and an average target price of $63.63.

In related news, Director Jr. Robert M. Whelan sold 10,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total transaction of $660,100.00. Following the completion of the transaction, the director now directly owns 25,559 shares in the company, valued at $1,687,149.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP F G. Hammond sold 1,578 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $65.00, for a total transaction of $102,570.00. Following the transaction, the vice president now owns 26,108 shares of the company’s stock, valued at $1,697,020. The disclosure for this sale can be found here. Insiders have sold 14,197 shares of company stock valued at $931,360 over the last 90 days. 0.60% of the stock is currently owned by insiders.

Shares of Aspen Technology, Inc. (NASDAQ AZPN) opened at $67.03 on Friday. Aspen Technology, Inc. has a one year low of $52.23 and a one year high of $69.38. The company has a market cap of $4,806.20, a price-to-earnings ratio of 30.82 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. The company had revenue of $122.80 million during the quarter, compared to the consensus estimate of $121.73 million. Aspen Technology had a net margin of 33.35% and a negative return on equity of 66.74%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. research analysts expect that Aspen Technology, Inc. will post 1.77 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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