Meeder Asset Management Inc. raised its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 17.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 11,006 shares of the technology company’s stock after purchasing an additional 1,626 shares during the quarter. Meeder Asset Management Inc.’s holdings in Aspen Technology were worth $1,355,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Aspen Technology by 2.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,072,554 shares of the technology company’s stock worth $754,697,000 after purchasing an additional 155,276 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Aspen Technology by 3.8% in the 2nd quarter. BlackRock Inc. now owns 3,877,106 shares of the technology company’s stock worth $481,849,000 after purchasing an additional 141,490 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Aspen Technology by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 1,248,089 shares of the technology company’s stock worth $155,112,000 after purchasing an additional 32,067 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Aspen Technology by 1.6% in the 2nd quarter. Bamco Inc. NY now owns 1,206,716 shares of the technology company’s stock worth $149,971,000 after purchasing an additional 18,950 shares in the last quarter. Finally, Two Creeks Capital Management LP lifted its holdings in shares of Aspen Technology by 9.0% in the 2nd quarter. Two Creeks Capital Management LP now owns 989,160 shares of the technology company’s stock worth $122,933,000 after purchasing an additional 81,497 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.
Shares of Aspen Technology stock traded down $0.31 during trading hours on Friday, hitting $115.13. 472,200 shares of the company’s stock traded hands, compared to its average volume of 428,719. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 30.54 and a beta of 1.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.98. Aspen Technology, Inc. has a 12-month low of $74.84 and a 12-month high of $142.15. The company has a fifty day simple moving average of $119.45 and a 200-day simple moving average of $124.20.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.30. The company had revenue of $134.09 million during the quarter, compared to analysts’ expectations of $119.49 million. Aspen Technology had a return on equity of 67.12% and a net margin of 43.83%. Aspen Technology’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, analysts forecast that Aspen Technology, Inc. will post 3.32 EPS for the current fiscal year.
In other Aspen Technology news, CFO Karl E. Johnsen sold 2,972 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $136.80, for a total value of $406,569.60. Following the completion of the sale, the chief financial officer now owns 22,150 shares in the company, valued at $3,030,120. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Karl E. Johnsen sold 2,310 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $116.82, for a total value of $269,854.20. Following the completion of the sale, the chief financial officer now owns 28,667 shares of the company’s stock, valued at approximately $3,348,878.94. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
A number of equities analysts recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $152.00 target price (up from $133.00) on shares of Aspen Technology in a report on Monday, August 12th. JPMorgan Chase & Co. dropped their price objective on Aspen Technology from $131.00 to $123.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 11th. Bank of America restated a “neutral” rating and set a $136.00 price objective (up from $130.00) on shares of Aspen Technology in a research note on Thursday, August 8th. ValuEngine cut Aspen Technology from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity raised their price objective on Aspen Technology from $126.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $134.57.
Aspen Technology Company Profile
Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company 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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