Legal & General Group Plc Acquires 61,286 Shares of Aspen Technology, Inc. (AZPN)

Legal & General Group Plc raised its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 170.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,209 shares of the technology company’s stock after purchasing an additional 61,286 shares during the quarter. Legal & General Group Plc owned 0.14% of Aspen Technology worth $9,015,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its holdings in Aspen Technology by 411.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,753 shares of the technology company’s stock valued at $163,000 after purchasing an additional 1,410 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of Aspen Technology during the 1st quarter worth about $200,000. Moloney Securities Asset Management LLC purchased a new stake in shares of Aspen Technology during the 2nd quarter worth about $201,000. Sigma Planning Corp purchased a new stake in shares of Aspen Technology during the 2nd quarter worth about $211,000. Finally, Northwest Bancshares Inc. purchased a new stake in shares of Aspen Technology during the 1st quarter worth about $223,000. 98.42% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on AZPN. BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Robert W. Baird increased their target price on shares of Aspen Technology from $90.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. KeyCorp increased their target price on shares of Aspen Technology from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Finally, Berenberg Bank decreased their price target on shares of Aspen Technology from $127.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday, August 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Aspen Technology presently has a consensus rating of “Buy” and a consensus price target of $97.63.



In related news, insider Karl E. Johnsen sold 9,438 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $108.07, for a total value of $1,019,964.66. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP F G. Hammond sold 3,311 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $107.51, for a total transaction of $355,965.61. Following the completion of the transaction, the vice president now directly owns 21,029 shares in the company, valued at $2,260,827.79. The disclosure for this sale can be found here. Insiders sold a total of 33,250 shares of company stock worth $3,595,936 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Shares of Aspen Technology stock opened at $118.60 on Friday. The stock has a market capitalization of $8.33 billion, a P/E ratio of 57.57, a P/E/G ratio of 2.50 and a beta of 1.26. Aspen Technology, Inc. has a twelve month low of $61.71 and a twelve month high of $118.80.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The firm had revenue of $125.96 million for the quarter, compared to analyst estimates of $125.60 million. Aspen Technology had a net margin of 29.77% and a negative return on equity of 53.91%. Aspen Technology’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. equities analysts anticipate that Aspen Technology, Inc. will post 2.85 earnings per share for the current fiscal year.

Aspen Technology Profile

Aspen Technology, Inc, together with its subsidiaries, provides software and services in the United States, Europe, and internationally. It 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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