Allspring Global Investments Holdings LLC purchased new shares of Aspen Technology, Inc. (NASDAQ: AZPN – Rated ) for the third quarter, according to the company’s most recent filing with the Securities and Exchange Commission (SEC). The company bought 4,592 shares of the technology company’s stock, valued at approximately $1,093,000.
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Several other hedge funds and other institutional investors have also recently increased or decreased their stakes in AZPN. Allianz Asset Management GmbH boosted its stake in Aspen Technology shares by 146.5% in the second quarter. Allianz Asset Management GmbH now owns 419,868 shares of the technology company worth $77,121,000 after acquiring an additional 249,553 shares during that period. Raymond James & Associates boosted its position in Aspen Technology by 211.5% in the third quarter. Raymond James & Associates now owns 168,349 shares of the tech company worth $40,101,000 after purchasing an additional 114,312 shares during that period. First Trust Advisors LP bought $16.3 million worth of new positions in Aspen Technology during the first quarter. Goldman Sachs Group Inc. increased its position in Aspen Technology by 23.0% in the second quarter. Goldman Sachs now owns 288,277 shares of the technology company worth $52,950,000 after purchasing an additional 53,990 shares during that period. Finally, Vanguard Group Inc. increased its position in Aspen Technology by 0.8% in the first quarter. Vanguard now owns 6,336,062 shares of the tech company worth $1,047,795,000 after purchasing an additional 51,393 shares during that period. Institutional investors and hedge funds own 44.40% of the company.
Insider Trading at Aspen Technology
In other Aspen Technology news, Vice President F G. Hammond sold 2,495 shares of the company in a transaction that occurred on Wednesday, November 30th. The stock has an average selling price of $223.75 and a total value of $558,256.25. Following the sale, the vice president now owns 20,152 shares of the company, worth approximately $4,509,010. The transaction was disclosed in a filing with the U.S. Securities and Exchange Commission, which is available at this hyperlink. Company insiders hold 1.00% of the company’s shares.
Analyst sets new price target
Several research analysts have issued reports on AZPN stock. Robert W. Baird cut their price target on shares of Aspen Technology from $242.00 to $224.00 and set a “neutral” rating on the stock in a research note on Wednesday. KeyCorp upped their price target on Aspen Technology from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, October 27th. StockNews.com began coverage on shares of Aspen Technology in a research report on Wednesday, October 12th. They have a “hold” rating on the company. Finally, Berenberg Bank began coverage on shares of Aspen Technology in a research report on Wednesday, January 11th. They issued a “hold” rating and a $210.00 price target for the company. Five equity research analysts have rated the stock with a hold rating and three have issued a buy rating on the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $234.83.
Aspen Technology shares rose 1.4 percent
AZPN stock opened Friday at $196.55. Aspen Technologies had a 1-year low of $135.48 and a 1-year high of $263.59. The market cap is $12.69 billion, with a P/E ratio of 65.52, a P/E ratio of 1.84, and a beta of 1.01. The stock has a 50-day moving average of $215.78 and a 200-day moving average of $218.45.
Aspen Technology (NASDAQ: AZPN – Get Rating ) last reported quarterly earnings data on Wednesday, October 26th. The technology company reported EPS of $1.98 for the quarter, beating the consensus estimate of $1.09 by $0.89. Aspen Technology has a return on equity of 5.75% and a net profit margin of 21.55%. The business’ revenue for the quarter was $250.82 million, beating analysts’ expectations of $236.76 million. In the same period last year, the business earned $0.65 per share. Aspen Technology’s revenue for the quarter rose 84.4% year-over-year. As a group, equity analysts are forecasting earnings per share of 5.99 for Aspen Technology, Inc. for the current year.
Aspen Technology Company Profile
Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring and asset optimization solutions worldwide. The company’s solutions are suitable for use in complex environments where optimizing the asset design, operation and maintenance lifecycle is critical. It offers IoT AI, aspen hybrid models, asset performance management, OSI digital grid management and performance engineering; production optimization of commodity polymers, olefins, refining and specialty chemicals; subsurface science and engineering; energy and polymers and specialty Value chain optimization for chemical solutions.
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