Schwab Charles Investment Management Inc. Increases Stake in Aspen Technology, Inc. (AZPN)

Schwab Charles Investment Management Inc. grew its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 523,050 shares of the technology company’s stock after purchasing an additional 74,218 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.72% of Aspen Technology worth $32,853,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. First Manhattan Co. purchased a new position in shares of Aspen Technology during the 3rd quarter valued at about $125,000. Paradigm Asset Management Co. LLC purchased a new position in shares of Aspen Technology during the 2nd quarter valued at about $138,000. Pacad Investment Ltd. acquired a new stake in shares of Aspen Technology during the 2nd quarter valued at about $166,000. Advisor Group Inc. grew its position in shares of Aspen Technology by 69.9% during the 2nd quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock valued at $173,000 after acquiring an additional 1,296 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Aspen Technology by 12.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock valued at $183,000 after acquiring an additional 357 shares during the period.

Shares of Aspen Technology, Inc. (AZPN) traded down $0.03 during midday trading on Tuesday, reaching $66.17. The company’s stock had a trading volume of 251,785 shares, compared to its average volume of 268,800. The stock has a market capitalization of $4,801.85, a price-to-earnings ratio of 30.78 and a beta of 1.23. Aspen Technology, Inc. has a 52 week low of $52.23 and a 52 week high of $69.38.

Aspen Technology (NASDAQ:AZPN) last announced 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 for 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 firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 earnings per share. equities research analysts predict that Aspen Technology, Inc. will post 1.77 EPS for the current fiscal year.

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 owns 25,559 shares in the company, valued at $1,687,149.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Karl E. Johnsen sold 2,619 shares of the business’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 transaction, the insider now owns 40,063 shares of the company’s stock, valued at approximately $2,580,457.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,197 shares of company stock valued at $931,360. Insiders own 0.80% of the company’s stock.

Several equities research analysts recently issued reports on the company. Bank of America assumed coverage on Aspen Technology in a report on Monday, November 6th. They issued a “neutral” rating and a $67.00 price objective on the stock. BidaskClub cut Aspen Technology from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research cut Aspen Technology from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Canaccord Genuity raised their target price 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. Finally, Robert W. Baird set a $63.00 target price on shares of Aspen Technology and gave the stock a “hold” rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Aspen Technology has a consensus rating of “Hold” and an average target price of $63.63.

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Aspen Technology Company Profile

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.

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

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