Ameriprise Financial Inc. cut its position in Aspen Technology Inc. (NASDAQ:AZPN) by 42.5% during the second quarter, Holdings Channel reports. The fund owned 233,427 shares of the company’s stock after selling 172,681 shares during the period. Ameriprise Financial Inc. owned 0.29% of Aspen Technology worth $9,393,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of AZPN. Neuberger Berman Group LLC boosted its stake in shares of Aspen Technology by 26.9% in the second quarter. Neuberger Berman Group LLC now owns 2,581,804 shares of the company’s stock valued at $103,892,000 after buying an additional 547,691 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Aspen Technology by 5.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,309,001 shares of the company’s stock valued at $83,424,000 after buying an additional 110,497 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of Aspen Technology by 45.6% in the second quarter. Manning & Napier Advisors LLC now owns 1,872,621 shares of the company’s stock valued at $75,353,000 after buying an additional 586,340 shares in the last quarter. State Street Corp boosted its stake in shares of Aspen Technology by 2.8% in the first quarter. State Street Corp now owns 1,667,966 shares of the company’s stock valued at $60,261,000 after buying an additional 45,732 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Aspen Technology by 57.9% in the first quarter. JPMorgan Chase & Co. now owns 1,126,866 shares of the company’s stock valued at $40,714,000 after buying an additional 413,430 shares in the last quarter.
Shares of Aspen Technology Inc. (NASDAQ:AZPN) traded down 0.28% on Monday, hitting $46.66. The stock had a trading volume of 166,892 shares. The company has a market cap of $3.72 billion, a P/E ratio of 27.77 and a beta of 1.06. The company has a 50-day moving average of $45.75 and a 200-day moving average of $40.41. Aspen Technology Inc. has a 52-week low of $29.25 and a 52-week high of $47.31.
Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Thursday, August 11th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Aspen Technology had a negative return on equity of 297.67% and a net margin of 29.63%. The firm had revenue of $113.70 million for the quarter, compared to analysts’ expectations of $112.88 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Aspen Technology Inc. will post $1.80 EPS for the current fiscal year.
Several equities research analysts have weighed in on AZPN shares. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, August 17th. Avondale Partners cut Aspen Technology from a “market perform” rating to an “underperform” rating and increased their price objective for the stock from $39.00 to $42.00 in a report on Friday, August 12th. Finally, KeyCorp reiterated a “buy” rating and issued a $45.00 price objective on shares of Aspen Technology in a report on Sunday, June 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Aspen Technology currently has an average rating of “Hold” and an average price target of $40.71.
In other news, CEO Antonio J. Pietri sold 4,500 shares of Aspen Technology stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $45.03, for a total value of $202,635.00. Following the sale, the chief executive officer now directly owns 152,750 shares of the company’s stock, valued at $6,878,332.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP F G. Hammond sold 18,542 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $45.91, for a total value of $851,263.22. Following the sale, the vice president now directly owns 48,885 shares in the company, valued at $2,244,310.35. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
About Aspen Technology
Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.
Want to see what other hedge funds are holding AZPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aspen Technology Inc. (NASDAQ:AZPN).
Receive News & Ratings for Aspen Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.