Strs Ohio decreased its position in shares of Aspen Technology Inc. (NASDAQ:AZPN) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 41,300 shares of the company’s stock after selling 800 shares during the period. Strs Ohio’s holdings in Aspen Technology were worth $1,661,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of Aspen Technology by 5,010.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,271 shares of the company’s stock worth $132,000 after buying an additional 3,207 shares during the period. Seven Eight Capital LLC bought a new position in shares of Aspen Technology during the first quarter worth about $137,000. Atria Investments LLC bought a new position in shares of Aspen Technology during the second quarter worth about $213,000. Acrospire Investment Management LLC bought a new position in shares of Aspen Technology during the first quarter worth about $249,000. Finally, Quadrature Capital Ltd bought a new position in shares of Aspen Technology during the first quarter worth about $261,000.
Shares of Aspen Technology Inc. (NASDAQ:AZPN) traded up 0.38% during mid-day trading on Monday, hitting $47.47. The stock had a trading volume of 324,492 shares. The stock has a market cap of $3.79 billion, a P/E ratio of 28.26 and a beta of 1.06. The firm has a 50 day moving average of $46.00 and a 200-day moving average of $40.82. Aspen Technology Inc. has a one year low of $29.25 and a one year high of $48.08.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the 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 earned $113.70 million during the quarter, compared to analysts’ expectations of $112.88 million. During the same period last year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts expect that Aspen Technology Inc. will post $1.80 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on AZPN. 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 research note on Wednesday, August 17th. Avondale Partners downgraded Aspen Technology from a “market perform” rating to an “underperform” rating and upped their price target for the stock from $39.00 to $42.00 in a research note on Friday, August 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Aspen Technology currently has an average rating of “Hold” and a consensus target price of $40.71.
In related news, CEO Antonio J. Pietri sold 4,500 shares of Aspen Technology stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $45.03, for a total transaction of $202,635.00. Following the completion of the transaction, the chief executive officer now directly owns 152,750 shares in the company, valued at $6,878,332.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP F G. Hammond sold 18,542 shares of Aspen Technology stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $45.91, for a total value of $851,263.22. Following the transaction, the vice president now owns 48,885 shares of the company’s stock, 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.
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