Wells Fargo & Company MN trimmed its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,065,943 shares of the technology company’s stock after selling 21,466 shares during the quarter. Wells Fargo & Company MN owned approximately 1.43% of Aspen Technology worth $58,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Aspen Technology by 1.6% during the first quarter. Vanguard Group Inc. now owns 7,635,099 shares of the technology company’s stock worth $449,861,000 after buying an additional 120,504 shares during the last quarter. BlackRock Inc. grew its stake in Aspen Technology by 46,846.9% during the first quarter. BlackRock Inc. now owns 5,503,112 shares of the technology company’s stock worth $324,242,000 after buying an additional 5,491,390 shares during the last quarter. FMR LLC grew its stake in Aspen Technology by 48.5% during the first quarter. FMR LLC now owns 4,206,339 shares of the technology company’s stock worth $247,837,000 after buying an additional 1,374,200 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Aspen Technology by 4.8% during the first quarter. Neuberger Berman Group LLC now owns 3,501,290 shares of the technology company’s stock worth $206,296,000 after buying an additional 160,253 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in Aspen Technology by 3.2% during the first quarter. Clearbridge Investments LLC now owns 2,573,161 shares of the technology company’s stock worth $151,611,000 after buying an additional 79,189 shares during the last quarter.

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In related news, VP F G. Hammond sold 3,388 shares of Aspen Technology stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $60.60, for a total transaction of $205,312.80. Following the sale, the vice president now directly owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of Aspen Technology stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $116,446.66. Following the sale, the insider now directly owns 28,530 shares in the company, valued at $1,687,264.20. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Aspen Technology, Inc. (AZPN) opened at 63.73 on Friday. The stock’s 50 day moving average is $60.38 and its 200-day moving average is $58.82. Aspen Technology, Inc. has a 12 month low of $45.17 and a 12 month high of $64.87. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 30.20 and a beta of 1.26.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Thursday, August 10th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.44 by $0.29. The firm had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. Aspen Technology had a net margin of 33.58% and a negative return on equity of 73.17%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. Equities analysts anticipate that Aspen Technology, Inc. will post $1.99 earnings per share for the current fiscal year.

Several brokerages have weighed in on AZPN. Canaccord Genuity reaffirmed a “hold” rating and set a $60.00 price objective on shares of Aspen Technology in a research note on Friday, June 9th. Zacks Investment Research cut shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Berenberg Bank began coverage on shares of Aspen Technology in a research note on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price objective on the stock. BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and set a $59.00 price objective on shares of Aspen Technology in a research note on Wednesday, June 28th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Aspen Technology has a consensus rating of “Buy” and an average target price of $61.75.

About Aspen Technology

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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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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