American International Group Inc. lifted its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 8.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,354 shares of the technology company’s stock after buying an additional 3,764 shares during the quarter. American International Group Inc. owned about 0.07% of Aspen Technology worth $3,163,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Manhattan Co. purchased a new stake in shares of Aspen Technology during the third quarter worth about $125,000. Paradigm Asset Management Co. LLC purchased a new stake in shares of Aspen Technology during the second quarter worth about $138,000. Pacad Investment Ltd. purchased a new position in Aspen Technology during the 2nd quarter valued at approximately $166,000. Advisor Group Inc. grew its holdings in 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 buying an additional 1,296 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in Aspen Technology during the 3rd quarter valued at approximately $203,000.
In related news, Director Jr. Robert M. Whelan sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 25,559 shares of the company’s stock, valued at approximately $1,687,149.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP F G. Hammond sold 1,578 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 26,108 shares of the company’s stock, valued at approximately $1,697,020. The disclosure for this sale can be found here. In the last three months, insiders sold 14,197 shares of company stock valued at $931,360. Insiders own 0.60% of the company’s stock.
Several equities analysts have weighed in on AZPN shares. Berenberg Bank started coverage on Aspen Technology in a report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price target for the company. Zacks Investment Research cut Aspen Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird set a $63.00 price target on Aspen Technology and gave the stock a “hold” rating in a research note on Friday, October 6th. Bank of America assumed 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. Finally, BidaskClub lowered Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Aspen Technology presently has an average rating of “Hold” and a consensus price target of $63.63.
Aspen Technology, Inc. (AZPN) opened at $67.03 on Friday. The firm has a market capitalization of $4,862.02, a price-to-earnings ratio of 31.18 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 results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The business had revenue of $122.80 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. analysts forecast that Aspen Technology, Inc. will post 1.77 EPS for the current year.
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Aspen Technology 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.
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