GAM Holding AG decreased its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 42.9% in the 1st quarter, Holdings Channel reports. The firm owned 2,590 shares of the technology company’s stock after selling 1,949 shares during the quarter. GAM Holding AG’s holdings in Aspen Technology were worth $270,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AZPN. Ellis Investment Partners LLC bought a new position in Aspen Technology during the 1st quarter worth approximately $33,000. Riverview Trust Co bought a new position in Aspen Technology during the 4th quarter worth approximately $65,000. NumerixS Investment Technologies Inc raised its holdings in Aspen Technology by 75.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the technology company’s stock worth $113,000 after purchasing an additional 600 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Aspen Technology by 11.4% during the 4th 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 last quarter. Finally, Oakbrook Investments LLC bought a new position in Aspen Technology during the 1st quarter worth approximately $201,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.
Several research analysts have issued reports on AZPN shares. Bank of America upgraded shares of Aspen Technology from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $88.00 to $116.00 in a report on Tuesday, April 23rd. BidaskClub lowered shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Wedbush reiterated a “neutral” rating and issued a $104.00 price objective on shares of Aspen Technology in a research note on Monday, March 18th. Benchmark reiterated a “buy” rating and issued a $110.00 price objective on shares of Aspen Technology in a research note on Thursday, March 14th. Finally, KeyCorp started coverage on shares of Aspen Technology in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $120.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $117.25.
In other news, VP F G. Hammond sold 8,406 shares of Aspen Technology stock in a transaction on Monday, April 29th. The stock was sold at an average price of $121.34, for a total transaction of $1,019,984.04. Following the sale, the vice president now directly owns 24,221 shares in the company, valued at approximately $2,938,976.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Antonio J. Pietri sold 5,900 shares of Aspen Technology stock in a transaction on Monday, May 6th. The stock was sold at an average price of $118.81, for a total value of $700,979.00. Following the sale, the chief executive officer now owns 207,497 shares in the company, valued at $24,652,718.57. The disclosure for this sale can be found here. Insiders have sold a total of 71,597 shares of company stock worth $8,580,241 over the last ninety days. Insiders own 0.90% of the company’s stock.
NASDAQ AZPN opened at $120.81 on Friday. Aspen Technology, Inc. has a 12-month low of $74.84 and a 12-month high of $127.00. The firm has a market capitalization of $8.46 billion, a P/E ratio of 43.99 and a beta of 1.58.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. The business had revenue of $148.00 million during the quarter, compared to the consensus estimate of $136.38 million. During the same quarter last year, the firm posted $0.52 EPS. Aspen Technology’s revenue was up 15.8% compared to the same quarter last year. Equities analysts forecast that Aspen Technology, Inc. will post 3.26 earnings per share for the current 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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