Strs Ohio reduced its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 31,900 shares of the technology company’s stock after selling 700 shares during the period. Strs Ohio’s holdings in Aspen Technology were worth $1,762,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of AZPN. TrimTabs Asset Management LLC increased its position in shares of Aspen Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,262 shares of the technology company’s stock worth $133,000 after buying an additional 1,064 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new position in shares of Aspen Technology during the first quarter worth about $243,000. HL Financial Services LLC increased its position in shares of Aspen Technology by 0.8% in the first quarter. HL Financial Services LLC now owns 4,257 shares of the technology company’s stock worth $251,000 after buying an additional 33 shares during the last quarter. Comerica Bank increased its position in shares of Aspen Technology by 6.4% in the first quarter. Comerica Bank now owns 4,302 shares of the technology company’s stock worth $266,000 after buying an additional 259 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Aspen Technology during the second quarter worth about $260,000.
Shares of Aspen Technology, Inc. (NASDAQ AZPN) opened at 56.65 on Friday. The stock has a market cap of $4.22 billion, a P/E ratio of 31.51 and a beta of 1.28. The firm’s 50-day moving average is $56.42 and its 200 day moving average is $57.78. Aspen Technology, Inc. has a 52-week low of $41.30 and a 52-week high of $64.34.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Thursday, August 10th. The technology company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.35. The company had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. Aspen Technology had a net margin of 29.85% and a negative return on equity of 80.54%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. Analysts forecast that Aspen Technology, Inc. will post $1.97 earnings per share for the current fiscal year.
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A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity reissued a “hold” rating and set a $60.00 target price on shares of Aspen Technology in a research report on Friday, June 9th. Benchmark Co. reissued a “hold” rating and set a $55.00 target price (up previously from $48.00) on shares of Aspen Technology in a research report on Wednesday, May 3rd. Finally, Robert W. Baird began coverage on shares of Aspen Technology in a research report on Wednesday, May 10th. They set a “neutral” rating and a $63.00 target price on the stock. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Aspen Technology currently has a consensus rating of “Buy” and a consensus target price of $60.29.
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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