BlackRock Advisors LLC cut its position in shares of Aspen Technology Inc. (NASDAQ:AZPN) by 0.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 306,322 shares of the company’s stock after selling 355 shares during the period. BlackRock Advisors LLC’s holdings in Aspen Technology were worth $14,333,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. M&T Bank Corp acquired a new position in shares of Aspen Technology during the second quarter worth about $263,000. Emerald Acquisition Ltd. acquired a new position in shares of Aspen Technology during the second quarter worth about $8,910,000. Howard Hughes Medical Institute boosted its position in shares of Aspen Technology by 7.2% in the second quarter. Howard Hughes Medical Institute now owns 61,271 shares of the company’s stock worth $2,466,000 after buying an additional 4,119 shares during the last quarter. Bbva Compass Bancshares Inc. acquired a new position in shares of Aspen Technology during the second quarter worth about $270,000. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Aspen Technology by 33.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 307,920 shares of the company’s stock worth $12,391,000 after buying an additional 77,295 shares during the last quarter.
Aspen Technology Inc. (NASDAQ:AZPN) traded up 0.57% during midday trading on Tuesday, reaching $54.55. 399,026 shares of the company traded hands. The stock has a market capitalization of $4.21 billion, a P/E ratio of 32.49 and a beta of 1.02. Aspen Technology Inc. has a 12-month low of $29.25 and a 12-month high of $55.39. The company has a 50 day moving average of $52.35 and a 200-day moving average of $46.05.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.10. The business earned $120.10 million during the quarter, compared to analysts’ expectations of $116.48 million. Aspen Technology had a net margin of 29.27% and a negative return on equity of 181.66%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. Equities analysts anticipate that Aspen Technology Inc. will post $1.83 EPS for the current fiscal year.
A number of equities analysts have issued reports on the stock. Pacific Crest raised their price objective on shares of Aspen Technology from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 22nd. Canaccord Genuity reissued a “hold” rating and set a $46.00 price target on shares of Aspen Technology in a research report on Friday, October 28th. Finally, Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $45.00.
In other Aspen Technology news, EVP William Griffin sold 6,772 shares of the company’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $55.00, for a total value of $372,460.00. Following the completion of the transaction, the executive vice president now directly owns 59,083 shares in the company, valued at approximately $3,249,565. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP F G. Hammond sold 2,254 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $48.05, for a total transaction of $108,304.70. Following the completion of the transaction, the vice president now owns 32,359 shares of the company’s stock, valued at $1,554,849.95. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
Aspen Technology Company 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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