California State Teachers Retirement System trimmed its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,433 shares of the technology company’s stock after selling 3,907 shares during the period. California State Teachers Retirement System owned about 0.16% of Aspen Technology worth $8,791,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of AZPN. Mckinley Capital Management LLC Delaware bought a new stake in shares of Aspen Technology in the 1st quarter valued at about $134,000. CIBC Asset Management Inc bought a new stake in shares of Aspen Technology in the 1st quarter valued at about $203,000. Zeke Capital Advisors LLC bought a new stake in shares of Aspen Technology in the 4th quarter valued at about $204,000. Tocqueville Asset Management L.P. bought a new stake in shares of Aspen Technology in the 4th quarter valued at about $209,000. Finally, Northwest Bancshares Inc. bought a new stake in shares of Aspen Technology in the 1st quarter valued at about $223,000. Institutional investors own 98.08% of the company’s stock.
In other Aspen Technology news, VP F G. Hammond sold 16,024 shares of the stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $88.00, for a total value of $1,410,112.00. Following the transaction, the vice president now directly owns 29,113 shares of the company’s stock, valued at approximately $2,561,944. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jr. Robert M. Whelan sold 1,500 shares of the stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $88.03, for a total transaction of $132,045.00. Following the completion of the transaction, the director now directly owns 11,887 shares in the company, valued at $1,046,412.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,183 shares of company stock worth $2,225,566. Insiders own 0.60% of the company’s stock.
AZPN has been the topic of a number of research analyst reports. Robert W. Baird raised shares of Aspen Technology from a “neutral” rating to an “outperform” rating and upped their target price for the company from $63.00 to $90.00 in a report on Monday, April 9th. BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 27th. Zacks Investment Research cut shares of Aspen Technology from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. ValuEngine raised shares of Aspen Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Berenberg Bank increased their price target on shares of Aspen Technology to $98.00 and gave the company a “buy” rating in a report on Thursday, April 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.88.
Aspen Technology stock opened at $94.26 on Friday. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 44.67, a P/E/G ratio of 4.57 and a beta of 1.23. Aspen Technology, Inc. has a twelve month low of $53.51 and a twelve month high of $99.86.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Wednesday, April 25th. The technology company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The firm had revenue of $125.87 million for the quarter, compared to analysts’ expectations of $121.94 million. Aspen Technology had a net margin of 33.19% and a negative return on equity of 61.04%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. equities research analysts anticipate that Aspen Technology, Inc. will post 2.04 earnings per share for the current year.
Aspen Technology Profile
Aspen Technology, Inc, together with its subsidiaries, provides software and services in the United States, Europe, and internationally. It operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.
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