Quantitative Investment Management LLC reduced its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 23.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,200 shares of the technology company’s stock after selling 10,100 shares during the quarter. Quantitative Investment Management LLC’s holdings in Aspen Technology were worth $2,197,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Legato Capital Management LLC purchased a new position in Aspen Technology during the 4th quarter worth approximately $203,000. Tocqueville Asset Management L.P. purchased a new position in Aspen Technology during the 4th quarter worth approximately $209,000. Raymond James Financial Services Advisors Inc. purchased a new position in Aspen Technology during the 4th quarter worth approximately $224,000. Dean Capital Investments Management LLC purchased a new position in Aspen Technology during the 4th quarter worth approximately $237,000. Finally, Moneta Group Investment Advisors LLC purchased a new position in Aspen Technology during the 3rd quarter worth approximately $226,000.
In related news, Director Jr. Robert M. Whelan sold 2,172 shares of Aspen Technology stock in a transaction on Monday, February 12th. The shares were sold at an average price of $72.28, for a total value of $156,992.16. Following the sale, the director now owns 15,159 shares of the company’s stock, valued at approximately $1,095,692.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Antonio J. Pietri sold 26,900 shares of Aspen Technology stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.56, for a total transaction of $2,059,464.00. Following the completion of the sale, the chief executive officer now directly owns 250,416 shares in the company, valued at approximately $19,171,848.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,308 shares of company stock valued at $3,929,379. Insiders own 0.80% of the company’s stock.
A number of equities analysts have issued reports on the stock. BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 10th. Canaccord Genuity raised their price target on shares of Aspen Technology from $65.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. KeyCorp raised their price target on shares of Aspen Technology from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Robert W. Baird reissued a “hold” rating on shares of Aspen Technology in a research report on Wednesday, January 24th. Finally, ValuEngine raised shares of Aspen Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $72.67.
Aspen Technology stock opened at $80.86 on Monday. The firm has a market cap of $5,816.98, a P/E ratio of 36.92, a PEG ratio of 3.91 and a beta of 1.25. Aspen Technology, Inc. has a 1-year low of $53.51 and a 1-year high of $84.40.
Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.09. The firm had revenue of $124.90 million during the quarter, compared to analyst estimates of $121.81 million. Aspen Technology had a net margin of 33.23% and a negative return on equity of 61.97%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. analysts predict that Aspen Technology, Inc. will post 1.97 EPS for the current year.
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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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