Meeder Asset Management Inc. reduced its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,167 shares of the technology company’s stock after selling 2,792 shares during the period. Meeder Asset Management Inc.’s holdings in Aspen Technology were worth $739,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Aspen Technology by 15.8% during 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 acquiring an additional 543,592 shares in the last quarter. Pictet Asset Management Ltd. raised its position in shares of Aspen Technology by 14.1% during 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 acquiring an additional 227,609 shares in the last quarter. State Street Corp raised its position in shares of Aspen Technology by 1.7% during the 2nd quarter. State Street Corp now owns 1,599,490 shares of the technology company’s stock valued at $88,389,000 after acquiring an additional 27,307 shares in the last quarter. Koch Industries Inc. raised its position in shares of Aspen Technology by 8,875.5% during the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock valued at $1,164,000 after acquiring an additional 1,171,746 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Aspen Technology by 6.0% during the 3rd quarter. Wells Fargo & Company MN now owns 1,129,844 shares of the technology company’s stock valued at $70,965,000 after acquiring an additional 63,901 shares in the last quarter.

Shares of Aspen Technology, Inc. (NASDAQ AZPN) opened at $71.33 on Friday. Aspen Technology, Inc. has a 52-week low of $53.51 and a 52-week high of $84.40. The firm has a market capitalization of $5,140.00, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 22.19 and a beta of 1.29.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.09. Aspen Technology had a negative return on equity of 61.97% and a net margin of 33.23%. The firm had revenue of $124.90 million for the quarter, compared to analyst estimates of $121.81 million. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. research analysts predict that Aspen Technology, Inc. will post 1.97 EPS for the current fiscal year.

Several equities research analysts recently issued reports on the company. Bank of America lowered Aspen Technology from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. Canaccord Genuity upped their price target on Aspen Technology from $65.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Berenberg Bank reaffirmed a “buy” rating and issued a $88.00 target price (up from $77.00) on shares of Aspen Technology in a research report on Thursday, January 25th. Wedbush reaffirmed a “neutral” rating and issued a $74.00 target price (up from $65.00) on shares of Aspen Technology in a research report on Thursday, January 25th. Finally, KeyCorp increased their target price on Aspen Technology from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $72.67.

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

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