Prudential Financial Inc. Lowers Stake in Aspen Technology, Inc. (AZPN)

Prudential Financial Inc. cut its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 58.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 40,494 shares of the technology company’s stock after selling 57,069 shares during the quarter. Prudential Financial Inc.’s holdings in Aspen Technology were worth $3,328,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. First Hawaiian Bank grew its stake in shares of Aspen Technology by 478.4% during the fourth quarter. First Hawaiian Bank now owns 885 shares of the technology company’s stock worth $73,000 after purchasing an additional 732 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Aspen Technology by 11.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,244 shares of the technology company’s stock worth $184,000 after purchasing an additional 229 shares during the period. Gideon Capital Advisors Inc. acquired a new stake in shares of Aspen Technology during the third quarter worth $231,000. Cerebellum GP LLC grew its stake in shares of Aspen Technology by 84.1% during the fourth quarter. Cerebellum GP LLC now owns 2,897 shares of the technology company’s stock worth $238,000 after purchasing an additional 1,323 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Aspen Technology by 62.0% during the fourth quarter. SG Americas Securities LLC now owns 2,963 shares of the technology company’s stock worth $243,000 after purchasing an additional 1,134 shares during the period. 97.56% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the company. Wedbush reissued a “neutral” rating and issued a $99.00 target price (down from $104.00) on shares of Aspen Technology in a research note on Thursday, January 24th. Canaccord Genuity boosted their target price on Aspen Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, January 24th. Zacks Investment Research raised Aspen Technology from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, January 21st. BidaskClub raised Aspen Technology from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th. Finally, Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of Aspen Technology in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $106.14.

In other news, CEO Antonio J. Pietri sold 7,095 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $99.49, for a total value of $705,881.55. Following the sale, the chief executive officer now directly owns 237,920 shares in the company, valued at $23,670,660.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jr. Robert M. Whelan sold 1,250 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $96.86, for a total value of $121,075.00. Following the completion of the sale, the director now owns 10,232 shares in the company, valued at $991,071.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,443 shares of company stock worth $1,611,897. Corporate insiders own 0.90% of the company’s stock.

NASDAQ:AZPN opened at $101.31 on Friday. Aspen Technology, Inc. has a 1 year low of $74.84 and a 1 year high of $118.86. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 49.18 and a beta of 1.56.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Wednesday, January 23rd. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.29. Aspen Technology had a return on equity of 204.42% and a net margin of 34.19%. The firm had revenue of $140.42 million during the quarter, compared to analysts’ expectations of $122.04 million. During the same period in the previous year, the firm earned $1.88 earnings per share. The company’s revenue was up 33.1% on a year-over-year basis. Equities research analysts predict that Aspen Technology, Inc. will post 3.24 EPS for the current year.

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About Aspen Technology

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

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