NorthCoast Asset Management LLC raised its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 35.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,616 shares of the technology company’s stock after acquiring an additional 12,118 shares during the quarter. NorthCoast Asset Management LLC owned approximately 0.06% of Aspen Technology worth $2,576,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. HL Financial Services LLC increased its position in Aspen Technology by 0.8% in the first quarter. HL Financial Services LLC now owns 4,257 shares of the technology company’s stock worth $251,000 after purchasing an additional 33 shares during the period. Stephens Inc. AR increased its position in Aspen Technology by 1.0% in the first quarter. Stephens Inc. AR now owns 7,820 shares of the technology company’s stock worth $461,000 after purchasing an additional 74 shares during the period. NGAM Advisors L.P. increased its position in Aspen Technology by 0.7% in the second quarter. NGAM Advisors L.P. now owns 14,673 shares of the technology company’s stock worth $811,000 after purchasing an additional 101 shares during the period. Renaissance Group LLC increased its position in Aspen Technology by 2.5% in the second quarter. Renaissance Group LLC now owns 5,871 shares of the technology company’s stock worth $324,000 after purchasing an additional 145 shares during the period. Finally, Comerica Bank grew its position in shares of Aspen Technology by 6.4% during the 1st quarter. Comerica Bank now owns 4,302 shares of the technology company’s stock worth $266,000 after buying an additional 259 shares during the period.
Several research firms have recently issued reports on AZPN. Canaccord Genuity reiterated a “hold” rating on shares of Aspen Technology in a research report on Friday, August 11th. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Wednesday, August 16th. BidaskClub upgraded Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Berenberg Bank started coverage on Aspen Technology in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Wedbush restated a “neutral” rating and issued a $59.00 target price on shares of Aspen Technology in a research note on Wednesday, June 28th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $61.75.
In other Aspen Technology news, insider Karl E. Johnsen sold 1,969 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total value of $116,446.66. Following the completion of the transaction, the insider now owns 28,530 shares in the company, valued at $1,687,264.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP F G. Hammond sold 3,388 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the completion of the transaction, the vice president now owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.
Aspen Technology, Inc. (NASDAQ AZPN) traded down 0.06% during mid-day trading on Friday, hitting $63.73. The stock had a trading volume of 649,559 shares. The stock has a market capitalization of $4.66 billion, a P/E ratio of 30.20 and a beta of 1.26. The company’s 50 day moving average is $60.38 and its 200-day moving average is $58.82. Aspen Technology, Inc. has a 52 week low of $45.17 and a 52 week high of $64.87.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29. Aspen Technology had a net margin of 33.58% and a negative return on equity of 73.17%. The firm had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts expect that Aspen Technology, Inc. will post $1.99 EPS for the current fiscal year.
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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