Voloridge Investment Management LLC raised its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,831 shares of the technology company’s stock after buying an additional 2,109 shares during the quarter. Voloridge Investment Management LLC’s holdings in Aspen Technology were worth $2,933,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Summit Global Investments raised its position in Aspen Technology by 0.3% in the second quarter. Summit Global Investments now owns 27,030 shares of the technology company’s stock valued at $3,359,000 after purchasing an additional 89 shares during the period. AGF Investments LLC increased its position in shares of Aspen Technology by 1.5% during the 2nd quarter. AGF Investments LLC now owns 6,427 shares of the technology company’s stock worth $799,000 after purchasing an additional 96 shares during the last quarter. First Allied Advisory Services Inc. increased its position in shares of Aspen Technology by 4.0% during the 3rd quarter. First Allied Advisory Services Inc. now owns 3,158 shares of the technology company’s stock worth $390,000 after purchasing an additional 122 shares during the last quarter. Zacks Investment Management increased its position in shares of Aspen Technology by 0.6% during the 2nd quarter. Zacks Investment Management now owns 23,563 shares of the technology company’s stock worth $2,928,000 after purchasing an additional 149 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Aspen Technology by 4.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,749 shares of the technology company’s stock valued at $585,000 after buying an additional 187 shares during the period. 97.11% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on AZPN. ValuEngine raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a research report on Tuesday. KeyCorp boosted their price objective on Aspen Technology from $124.00 to $141.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Canaccord Genuity raised their target price on Aspen Technology from $126.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. dropped their target price on Aspen Technology from $131.00 to $123.00 and set an “underweight” rating for the company in a research report on Wednesday, September 11th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $136.00 target price (up from $130.00) on shares of Aspen Technology in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $134.57.
Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.30. The business had revenue of $134.09 million for the quarter, compared to analyst estimates of $119.49 million. Aspen Technology had a return on equity of 67.12% and a net margin of 43.83%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. On average, equities research analysts predict that Aspen Technology, Inc. will post 3.32 EPS for the current year.
In other Aspen Technology news, CFO Karl E. Johnsen sold 2,310 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $116.82, for a total value of $269,854.20. Following the transaction, the chief financial officer now directly owns 28,667 shares in the company, valued at $3,348,878.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
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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