Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Elkfork Partners LLC

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Elkfork Partners LLC lowered its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 77.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 204 shares of the technology company’s stock after selling 714 shares during the period. Elkfork Partners LLC’s holdings in Aspen Technology were worth $25,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AZPN. William Blair Investment Management LLC grew its holdings in shares of Aspen Technology by 32.3% in the first quarter. William Blair Investment Management LLC now owns 1,582,680 shares of the technology company’s stock valued at $165,010,000 after purchasing an additional 386,376 shares in the last quarter. Riverbridge Partners LLC acquired a new position in shares of Aspen Technology in the second quarter valued at approximately $22,156,000. Cookson Peirce & Co. Inc. acquired a new position in shares of Aspen Technology in the second quarter valued at approximately $12,722,000. First Trust Advisors LP grew its holdings in shares of Aspen Technology by 1,861.3% in the second quarter. First Trust Advisors LP now owns 86,515 shares of the technology company’s stock valued at $10,752,000 after purchasing an additional 82,104 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Aspen Technology by 52.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 225,302 shares of the technology company’s stock worth $27,417,000 after acquiring an additional 77,483 shares in the last quarter. Hedge funds and other institutional investors own 96.45% of the company’s stock.

Shares of Aspen Technology stock opened at $122.54 on Monday. The company has a market cap of $8.54 billion, a P/E ratio of 32.50, a PEG ratio of 20.68 and a beta of 1.59. Aspen Technology, Inc. has a one year low of $74.84 and a one year high of $142.15. The firm has a fifty day moving average of $132.94 and a two-hundred day moving average of $119.61.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.50. The company had revenue of $195.77 million during the quarter, compared to the consensus estimate of $162.71 million. Aspen Technology had a net margin of 43.91% and a return on equity of 62.06%. Aspen Technology’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, equities analysts anticipate that Aspen Technology, Inc. will post 3.08 EPS for the current year.

In other Aspen Technology news, CFO Karl E. Johnsen sold 2,972 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $136.80, for a total transaction of $406,569.60. Following the completion of the transaction, the chief financial officer now owns 22,150 shares in the company, valued at approximately $3,030,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

AZPN has been the subject of several analyst reports. Bank of America reiterated a “neutral” rating and set a $136.00 price target (up previously from $130.00) on shares of Aspen Technology in a report on Thursday, August 8th. ValuEngine downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. KeyCorp upped their price target on shares of Aspen Technology from $124.00 to $141.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and set a $152.00 price objective (up previously from $133.00) on shares of Aspen Technology in a research report on Monday, August 12th. Finally, Wedbush restated an “outperform” rating and set a $155.00 price objective (up previously from $146.00) on shares of Aspen Technology in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $134.57.

Aspen Technology Profile

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.

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

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