American International Group Inc. lifted its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,354 shares of the technology company’s stock after acquiring an additional 3,764 shares during the period. American International Group Inc. owned 0.07% of Aspen Technology worth $3,163,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Koch Industries Inc. boosted its stake in 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 valued at $1,164,000 after buying an additional 1,171,746 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Aspen Technology by 15.8% during 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 buying an additional 543,592 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Aspen Technology by 20.9% during the second quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock valued at $130,441,000 after buying an additional 408,200 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in Aspen Technology by 304.8% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 416,171 shares of the technology company’s stock valued at $22,997,000 after buying an additional 313,372 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in Aspen Technology during the second quarter valued at approximately $15,288,000.
Shares of Aspen Technology, Inc. (AZPN) opened at $67.16 on Friday. The stock has a market capitalization of $4,828.68, a P/E ratio of 30.96 and a beta of 1.23. Aspen Technology, Inc. has a one year low of $52.23 and a one year high of $69.38.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. The business had revenue of $122.80 million during 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 company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. equities analysts predict that Aspen Technology, Inc. will post 1.77 EPS for the current year.
In other news, VP F G. Hammond sold 1,578 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $65.00, for a total value of $102,570.00. Following the completion of the sale, the vice president now directly owns 26,108 shares of the company’s stock, valued at approximately $1,697,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.01, for a total value of $660,100.00. Following the completion of the sale, the director now owns 25,559 shares in the company, valued at $1,687,149.59. The disclosure for this sale can be found here. Insiders sold a total of 14,197 shares of company stock valued at $931,360 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.
A number of brokerages recently commented on AZPN. Zacks Investment Research raised Aspen Technology from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Wednesday, August 16th. Canaccord Genuity increased their price target on Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Bank of America initiated coverage on Aspen Technology in a research note on Monday, November 6th. They set a “neutral” rating and a $67.00 price target for the company. Robert W. Baird set a $63.00 price objective on Aspen Technology and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, Berenberg Bank initiated coverage on Aspen Technology in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 price objective for the company. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $63.63.
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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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