California Public Employees Retirement System raised its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 22.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,710 shares of the technology company’s stock after acquiring an additional 33,486 shares during the period. California Public Employees Retirement System owned approximately 0.27% of Aspen Technology worth $22,488,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new stake in Aspen Technology during the second quarter valued at about $29,000. Squar Milner Financial Services LLC boosted its holdings in Aspen Technology by 952.9% during the third quarter. Squar Milner Financial Services LLC now owns 358 shares of the technology company’s stock valued at $44,000 after acquiring an additional 324 shares during the period. Kavar Capital Partners LLC bought a new stake in Aspen Technology during the second quarter valued at about $54,000. Daiwa Securities Group Inc. acquired a new position in shares of Aspen Technology during the second quarter valued at about $68,000. Finally, Parkside Financial Bank & Trust acquired a new position in shares of Aspen Technology during the second quarter valued at about $74,000. Institutional investors own 97.61% of the company’s stock.
In related news, CFO Karl E. Johnsen sold 2,310 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $116.82, for a total value of $269,854.20. Following the completion of the transaction, the chief financial officer now owns 28,667 shares of the company’s stock, valued at $3,348,878.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Karl E. Johnsen sold 2,972 shares of the stock in a transaction dated Monday, August 12th. The stock was 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 directly owns 22,150 shares of the company’s stock, valued at approximately $3,030,120. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.30. Aspen Technology had a net margin of 43.83% and a return on equity of 67.12%. The business had revenue of $134.09 million during the quarter, compared to analyst estimates of $119.49 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities analysts forecast that Aspen Technology, Inc. will post 3.32 earnings per share for the current year.
AZPN has been the subject of a number of research analyst reports. Bank of America reaffirmed a “neutral” rating and set a $136.00 price objective (up previously from $130.00) on shares of Aspen Technology in a research report on Thursday, August 8th. ValuEngine lowered shares of Aspen Technology from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Wedbush reaffirmed 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. KeyCorp upped their price objective 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. Finally, Canaccord Genuity upped their price objective on shares of Aspen Technology from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Aspen Technology presently has an average rating of “Hold” and a consensus target price of $134.57.
Aspen Technology Company 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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