State of Alaska Department of Revenue trimmed its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,236 shares of the technology company's stock after selling 2,002 shares during the period. State of Alaska Department of Revenue's holdings in Aspen Technology were worth $3,348,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Taconic Capital Advisors LP acquired a new position in Aspen Technology during the first quarter valued at approximately $13,560,000. Quantum Private Wealth LLC acquired a new position in Aspen Technology during the first quarter valued at approximately $214,000. EverSource Wealth Advisors LLC lifted its position in Aspen Technology by 107.8% during the first quarter. EverSource Wealth Advisors LLC now owns 3,708 shares of the technology company's stock valued at $613,000 after buying an additional 1,924 shares in the last quarter. Advisory Services Network LLC acquired a new position in Aspen Technology during the first quarter valued at approximately $620,000. Finally, Gabelli Funds LLC lifted its position in Aspen Technology by 67.9% during the first quarter. Gabelli Funds LLC now owns 35,352 shares of the technology company's stock valued at $5,846,000 after buying an additional 14,297 shares in the last quarter. 93.73% of the stock is owned by institutional investors and hedge funds.
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Aspen Technology Stock Down 0.4 %
Shares of NASDAQ:AZPN opened at $225.26 on Thursday. The company has a current ratio of 3.47, a quick ratio of 4.07 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $208.22 and a 200 day simple moving average of $184.99. The firm has a market cap of $14.60 billion, a PE ratio of 60.07, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. Aspen Technology, Inc. has a 12-month low of $122.29 and a 12-month high of $232.29.
Aspen Technology (NASDAQ:AZPN – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.07 by $0.36. The business had revenue of $238.90 million during the quarter, compared to analyst estimates of $293.17 million. Aspen Technology had a net
margin of 31.82% and a return on equity of 8.23%. The business's revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 earnings per share. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.16 EPS for the current fiscal year.
Insider Buying and Selling at Aspen Technology
In other news, VP F G. Hammond sold 4,262 shares of the firm's stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $211.57, for a total value of $901,711.34. Following the transaction, the vice president now directly owns 20,606 shares in the company, valued at approximately $4,359,611.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Aspen Technology from $176.00 to $230.00 and gave the company a "buy" rating in a research note on Monday, June 6th. StockNews.com upgraded shares of Aspen Technology from a "sell" rating to a "hold" rating in a research note on Tuesday, July 12th. Loop Capital lifted their price objective on shares of Aspen Technology from $175.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, June 15th. KeyCorp lifted their price objective on shares of Aspen Technology from $175.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, July 8th. Finally, Robert W. Baird lifted their price objective on shares of Aspen Technology to $182.00 in a research note on Monday, August 15th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $217.40.
Aspen Technology Company Profile
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Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.
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