Synovus Financial Corp cut its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,734 shares of the technology company’s stock after selling 784 shares during the period. Synovus Financial Corp’s holdings in Aspen Technology were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC increased its position in Aspen Technology by 5.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,862,800 shares of the technology company’s stock valued at $358,236,000 after buying an additional 194,900 shares in the last quarter. FMR LLC increased its holdings in Aspen Technology by 12.8% during the 2nd quarter. FMR LLC now owns 2,208,130 shares of the technology company’s stock worth $204,782,000 after purchasing an additional 250,691 shares in the last quarter. Brown Advisory Inc. increased its holdings in Aspen Technology by 4.3% during the 2nd quarter. Brown Advisory Inc. now owns 747,207 shares of the technology company’s stock worth $69,296,000 after purchasing an additional 30,579 shares in the last quarter. Millennium Management LLC bought a new stake in Aspen Technology during the 2nd quarter worth approximately $53,964,000. Finally, Standard Life Aberdeen plc increased its holdings in Aspen Technology by 51.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 533,864 shares of the technology company’s stock worth $49,505,000 after purchasing an additional 180,847 shares in the last quarter. 98.68% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Karl E. Johnsen sold 2,387 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $80.69, for a total value of $192,607.03. Following the transaction, the insider now owns 35,058 shares in the company, valued at approximately $2,828,830.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary E. Haroian sold 10,058 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $107.30, for a total value of $1,079,223.40. The disclosure for this sale can be found here. Insiders sold a total of 35,637 shares of company stock worth $3,788,543 in the last 90 days. Company insiders own 0.90% of the company’s stock.
AZPN has been the subject of a number of recent research reports. BidaskClub raised Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 7th. KeyCorp boosted their target price on Aspen Technology from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Robert W. Baird boosted their target price on Aspen Technology from $90.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Wedbush boosted their target price on Aspen Technology from $80.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research note on Tuesday, August 14th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $102.00.
Shares of NASDAQ AZPN opened at $83.14 on Wednesday. Aspen Technology, Inc. has a twelve month low of $64.96 and a twelve month high of $118.86. The company has a market capitalization of $6.11 billion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 1.80 and a beta of 1.52.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Wednesday, October 24th. The technology company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.12. Aspen Technology had a negative return on equity of 168.12% and a net margin of 30.96%. The firm had revenue of $114.17 million for the quarter, compared to the consensus estimate of $113.49 million. As a group, research analysts forecast that Aspen Technology, Inc. will post 2.9 earnings per share for the current fiscal year.
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Aspen Technology Company Profile
Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.
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