Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,075 shares of the technology company’s stock, valued at approximately $879,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MARSHALL WACE ASIA Ltd lifted its stake in shares of Aspen Technology by 8.8% during the first quarter. MARSHALL WACE ASIA Ltd now owns 587,612 shares of the technology company’s stock valued at $61,264,000 after acquiring an additional 47,553 shares during the period. Dupont Capital Management Corp lifted its stake in Aspen Technology by 5.7% in the second quarter. Dupont Capital Management Corp now owns 28,322 shares of the technology company’s stock valued at $3,520,000 after buying an additional 1,516 shares during the period. Envestnet Asset Management Inc. lifted its stake in Aspen Technology by 24.5% in the first quarter. Envestnet Asset Management Inc. now owns 83,118 shares of the technology company’s stock valued at $8,666,000 after buying an additional 16,353 shares during the period. Meridian Wealth Management LLC acquired a new position in Aspen Technology in the first quarter valued at about $76,000. Finally, Anderson Fisher LLC acquired a new position in Aspen Technology in the first quarter valued at about $105,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.
In other Aspen Technology news, 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 value of $406,569.60. Following the completion of the sale, the chief financial officer now directly owns 22,150 shares in the company, valued at $3,030,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Aspen Technology from $114.00 to $131.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Zacks Investment Research lowered Aspen Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Bank of America reissued a “neutral” rating and issued a $136.00 target price (up previously from $130.00) on shares of Aspen Technology in a research note on Thursday, August 8th. KeyCorp increased their target price on Aspen Technology from $124.00 to $141.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $152.00 target price (up previously from $133.00) on shares of Aspen Technology in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $134.43.
Shares of Aspen Technology stock opened at $133.20 on Monday. Aspen Technology, Inc. has a 1 year low of $74.84 and a 1 year high of $142.15. The business has a 50-day moving average of $134.14 and a two-hundred day moving average of $117.66. The company has a market capitalization of $9.15 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 21.97 and a beta of 1.54.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.50. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. The company had revenue of $195.77 million during the quarter, compared to the consensus estimate of $162.71 million. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities research analysts expect that Aspen Technology, Inc. will post 3.08 EPS for the current fiscal year.
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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