US Bancorp DE lowered its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,836 shares of the technology company’s stock after selling 1,940 shares during the period. US Bancorp DE’s holdings in Aspen Technology were worth $2,036,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. ClariVest Asset Management LLC purchased a new position in Aspen Technology during the first quarter valued at approximately $1,540,000. MARSHALL WACE ASIA Ltd purchased a new position in Aspen Technology during the first quarter valued at approximately $314,000. Stephens Investment Management Group LLC increased its position in Aspen Technology by 3.6% in the first quarter. Stephens Investment Management Group LLC now owns 905,240 shares of the technology company’s stock valued at $53,337,000 after buying an additional 31,672 shares in the last quarter. Stephens Inc. AR increased its position in Aspen Technology by 1.0% in the first quarter. Stephens Inc. AR now owns 7,820 shares of the technology company’s stock valued at $461,000 after buying an additional 74 shares in the last quarter. Finally, Credit Suisse AG increased its position in Aspen Technology by 37.2% in the first quarter. Credit Suisse AG now owns 109,284 shares of the technology company’s stock valued at $6,439,000 after buying an additional 29,605 shares in the last quarter.
Aspen Technology, Inc. (NASDAQ AZPN) traded down 1.96% during trading on Wednesday, reaching $56.52. The company’s stock had a trading volume of 140,735 shares. The company has a market cap of $4.21 billion, a PE ratio of 31.43 and a beta of 1.28. The stock has a 50-day moving average price of $56.12 and a 200 day moving average price of $57.72. Aspen Technology, Inc. has a 52-week low of $41.03 and a 52-week high of $64.34.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. Aspen Technology had a negative return on equity of 80.54% and a net margin of 29.85%. The firm had revenue of $119.28 million during the quarter, compared to analyst estimates of $117.64 million. On average, analysts expect that Aspen Technology, Inc. will post $1.97 EPS for the current year.
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Several research firms have commented on AZPN. Canaccord Genuity reiterated a “hold” rating and issued a $60.00 target price on shares of Aspen Technology in a research report on Friday, June 9th. Benchmark Co. reiterated a “hold” rating and issued a $55.00 target price (up from $48.00) on shares of Aspen Technology in a research report on Wednesday, May 3rd. Robert W. Baird began coverage on Aspen Technology in a research report on Wednesday, May 10th. They issued a “neutral” rating and a $63.00 target price for the company. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Friday, May 5th. Finally, BidaskClub downgraded Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.29.
Aspen Technology Company Profile
Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.
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