Aspen Technology, Inc. (AZPN) Holdings Cut by Stifel Financial Corp
Stifel Financial Corp lessened its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,778 shares of the technology company’s stock after selling 12,105 shares during the quarter. Stifel Financial Corp owned 0.40% of Aspen Technology worth $18,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Aspen Technology by 15.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,984,783 shares of the technology company’s stock valued at $250,285,000 after purchasing an additional 543,592 shares during the period. Renaissance Technologies LLC grew its stake in Aspen Technology by 20.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock valued at $130,441,000 after purchasing an additional 408,200 shares during the period. Pictet Asset Management Ltd. grew its stake in Aspen Technology by 14.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,837,321 shares of the technology company’s stock valued at $115,402,000 after purchasing an additional 227,609 shares during the period. State Street Corp grew its stake in Aspen Technology by 1.7% in the 2nd quarter. State Street Corp now owns 1,599,490 shares of the technology company’s stock valued at $88,389,000 after purchasing an additional 27,307 shares during the period. Finally, Koch Industries Inc. grew its stake in Aspen Technology by 8,875.5% in the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 1,171,746 shares during the period.
A number of brokerages have recently commented on AZPN. Bank of America began coverage on Aspen Technology in a research report on Monday, November 6th. They set a “neutral” rating and a $67.00 price target on the stock. Canaccord Genuity upped their price target on Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Robert W. Baird set a $63.00 price target on Aspen Technology and gave the company a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research cut Aspen Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Berenberg Bank began coverage on Aspen Technology in a research report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.63.
Aspen Technology, Inc. (NASDAQ:AZPN) opened at $66.76 on Thursday. Aspen Technology, Inc. has a 1 year low of $52.23 and a 1 year high of $69.38. The company has a market capitalization of $4,828.68, a price-to-earnings ratio of 30.96 and a beta of 1.23.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. The firm had revenue of $122.80 million for the quarter, compared to analysts’ expectations of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. analysts predict that Aspen Technology, Inc. will post 1.77 earnings per share for the current year.
In related news, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $66.01, for a total transaction of $660,100.00. Following the sale, the director now owns 25,559 shares of the company’s stock, valued at approximately $1,687,149.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP F G. Hammond sold 1,578 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $65.00, for a total value of $102,570.00. Following the sale, the vice president now directly owns 26,108 shares in the company, valued at approximately $1,697,020. The disclosure for this sale can be found here. Insiders have sold a total of 14,197 shares of company stock worth $931,360 in the last three months. 0.60% of the stock is currently owned by insiders.
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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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