Aspen Technology, Inc. (AZPN) Shares Bought by Convergence Investment Partners LLC
Convergence Investment Partners LLC increased its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 90,334 shares of the technology company’s stock after acquiring an additional 2,116 shares during the period. Aspen Technology makes up about 0.8% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 17th largest position. Convergence Investment Partners LLC’s holdings in Aspen Technology were worth $5,980,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP raised its position in shares of Aspen Technology by 63.8% during the third quarter. GSA Capital Partners LLP now owns 28,777 shares of the technology company’s stock worth $1,807,000 after purchasing an additional 11,213 shares during the period. California Public Employees Retirement System raised its position in shares of Aspen Technology by 7.8% during the third quarter. California Public Employees Retirement System now owns 207,667 shares of the technology company’s stock worth $13,044,000 after purchasing an additional 14,967 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Aspen Technology by 2.2% during the third quarter. Janney Montgomery Scott LLC now owns 38,799 shares of the technology company’s stock worth $2,437,000 after purchasing an additional 818 shares during the period. Jane Street Group LLC acquired a new stake in shares of Aspen Technology during the third quarter worth $371,000. Finally, Oribel Capital Management LP acquired a new stake in shares of Aspen Technology during the third quarter worth $6,840,000.
In other news, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.01, for a total value of $660,100.00. Following the completion of the transaction, the director now directly 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 SEC, which is available at this link. Also, insider Karl E. Johnsen sold 2,619 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $64.41, for a total value of $168,689.79. Following the completion of the transaction, the insider now directly owns 40,063 shares of the company’s stock, valued at $2,580,457.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,197 shares of company stock valued at $931,360. Insiders own 0.80% of the company’s stock.
Shares of Aspen Technology, Inc. (AZPN) traded up $1.15 during trading hours on Tuesday, reaching $75.12. The company had a trading volume of 330,200 shares, compared to its average volume of 407,478. Aspen Technology, Inc. has a 1 year low of $52.23 and a 1 year high of $75.54. The company has a market cap of $5,448.86, a P/E ratio of 34.94 and a beta of 1.23.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $122.80 million during the quarter, compared to the consensus estimate of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The firm’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 company earned $0.49 EPS. sell-side analysts anticipate that Aspen Technology, Inc. will post 1.83 EPS for the current fiscal year.
Several research firms recently weighed in on AZPN. KeyCorp reissued a “buy” rating and set a $83.00 price target (up from $73.00) on shares of Aspen Technology in a research report on Monday, January 8th. Zacks Investment Research raised Aspen Technology from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research report on Monday, January 8th. 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. 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. Finally, BidaskClub lowered Aspen Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $66.60.
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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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