Verition Fund Management LLC bought a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,246 shares of the technology company’s stock, valued at approximately $233,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in Aspen Technology by 4.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,218,129 shares of the technology company’s stock worth $643,731,000 after purchasing an additional 259,938 shares during the period. Bank of America Corp DE raised its stake in Aspen Technology by 3.7% during the second quarter. Bank of America Corp DE now owns 182,206 shares of the technology company’s stock worth $18,878,000 after acquiring an additional 6,432 shares in the last quarter. Bamco Inc. NY raised its stake in Aspen Technology by 0.4% during the second quarter. Bamco Inc. NY now owns 1,254,157 shares of the technology company’s stock worth $129,943,000 after acquiring an additional 4,632 shares in the last quarter. Stifel Financial Corp raised its stake in Aspen Technology by 5.6% during the second quarter. Stifel Financial Corp now owns 138,277 shares of the technology company’s stock worth $14,326,000 after acquiring an additional 7,345 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in Aspen Technology during the second quarter worth about $1,453,000.
Aspen Technology stock opened at $129.31 on Wednesday. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 37.76 and a beta of 1.32. Aspen Technology, Inc. has a 52-week low of $73.07 and a 52-week high of $142.89. The stock’s 50 day moving average price is $115.80 and its two-hundred day moving average price is $102.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.29 and a current ratio of 2.29.
In other Aspen Technology news, CFO Karl E. Johnsen sold 2,006 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $124.98, for a total transaction of $250,709.88. Following the transaction, the chief financial officer now directly owns 17,459 shares in the company, valued at approximately $2,182,025.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.
Several research analysts have commented on AZPN shares. KeyCorp boosted their target price on Aspen Technology from $137.00 to $156.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 9th. They noted that the move was a valuation call. BidaskClub downgraded Aspen Technology from a “hold” rating to a “sell” rating in a research note on Friday, September 11th. Finally, Wolfe Research assumed coverage on Aspen Technology in a research note on Tuesday, August 25th. They issued an “underperform” rating and a $112.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Aspen Technology presently has an average rating of “Hold” and an average target price of $115.67.
About Aspen Technology
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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