Engineers Gate Manager LP Purchases New Stake in Aspen Technology, Inc. (AZPN)

Engineers Gate Manager LP purchased a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 43,493 shares of the technology company’s stock, valued at approximately $2,732,000. Engineers Gate Manager LP owned about 0.06% of Aspen Technology at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Aspen Technology by 15.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,984,783 shares of the technology company’s stock worth $250,285,000 after buying an additional 543,592 shares during the period. Renaissance Technologies LLC lifted its holdings in Aspen Technology by 20.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock worth $130,441,000 after buying an additional 408,200 shares during the period. Pictet Asset Management Ltd. lifted its holdings in Aspen Technology by 14.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,837,321 shares of the technology company’s stock worth $115,402,000 after buying an additional 227,609 shares during the period. State Street Corp lifted its holdings in Aspen Technology by 1.7% in the 2nd quarter. State Street Corp now owns 1,599,490 shares of the technology company’s stock worth $88,389,000 after buying an additional 27,307 shares during the period. Finally, Koch Industries Inc. lifted its holdings in Aspen Technology by 8,875.5% in the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock worth $1,164,000 after buying an additional 1,171,746 shares during the period.

AZPN has been the subject of several research analyst reports. Zacks Investment Research upgraded Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Canaccord Genuity restated a “hold” rating on shares of Aspen Technology in a research note on Friday, August 11th. Berenberg Bank initiated coverage on Aspen Technology in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 target price for the company. Robert W. Baird set a $63.00 target price on Aspen Technology and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, Bank of America initiated coverage on Aspen Technology in a research note on Monday, November 6th. They issued a “neutral” rating and a $67.00 target price for the company. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Aspen Technology has an average rating of “Hold” and a consensus price target of $63.63.

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 10,000 shares of Aspen Technology stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $66.01, for a total transaction of $660,100.00. Following the completion of the transaction, the director now owns 25,559 shares in the company, valued at $1,687,149.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP F G. Hammond sold 1,578 shares of Aspen Technology stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $65.00, for a total value of $102,570.00. Following the transaction, the vice president now owns 26,108 shares of the company’s stock, valued at approximately $1,697,020. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,197 shares of company stock valued at $931,360. 0.60% of the stock is currently owned by company insiders.

Aspen Technology, Inc. (AZPN) opened at $66.76 on Thursday. The company has a market capitalization of $4,828.68, a P/E ratio of 30.96 and a beta of 1.23. Aspen Technology, Inc. has a one year low of $52.23 and a one year high of $69.38.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. The company had revenue of $122.80 million during the quarter, compared to analysts’ expectations of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. analysts forecast that Aspen Technology, Inc. will post 1.77 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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