Amalgamated Bank Sells 294 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Amalgamated Bank lowered its position in Aspen Technology, Inc. (NASDAQ:AZPNGet Rating) by 0.6% in the first quarter, Holdings Channel.com reports. The fund owned 50,464 shares of the technology company’s stock after selling 294 shares during the period. Amalgamated Bank’s holdings in Aspen Technology were worth $8,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of AZPN. Covestor Ltd bought a new position in shares of Aspen Technology during the 4th quarter worth approximately $52,000. Bank of Montreal Can lifted its position in shares of Aspen Technology by 382.4% during the 4th quarter. Bank of Montreal Can now owns 27,093 shares of the technology company’s stock worth $4,121,000 after buying an additional 21,477 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Aspen Technology by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 395,829 shares of the technology company’s stock worth $60,246,000 after buying an additional 7,811 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Aspen Technology during the 4th quarter worth approximately $737,000. Finally, Gabelli Funds LLC bought a new position in shares of Aspen Technology during the 4th quarter worth approximately $3,205,000. Institutional investors own 93.73% of the company’s stock.

Aspen Technology Stock Up 1.5 %

NASDAQ AZPN opened at $226.37 on Friday. The stock has a fifty day moving average of $205.51 and a 200-day moving average of $183.60. The stock has a market capitalization of $14.68 billion, a P/E ratio of 60.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. Aspen Technology, Inc. has a 52 week low of $122.29 and a 52 week high of $229.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.07 and a current ratio of 3.47.

Aspen Technology (NASDAQ:AZPNGet Rating) last released its earnings results on Monday, August 8th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.07 by $0.36. The company had revenue of $238.90 million during the quarter, compared to analysts’ expectations of $293.17 million. Aspen Technology had a return on equity of 8.23% and a net margin of 31.82%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $1.43 EPS. On average, equities research analysts forecast that Aspen Technology, Inc. will post 6.16 EPS for the current year.

Insider Activity

In related news, VP F G. Hammond sold 4,262 shares of Aspen Technology stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $211.57, for a total transaction of $901,711.34. Following the completion of the sale, the vice president now directly owns 20,606 shares of the company’s stock, valued at $4,359,611.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America raised their target price on Aspen Technology from $176.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. StockNews.com upgraded Aspen Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Piper Sandler lifted their price objective on Aspen Technology from $159.00 to $189.00 and gave the company a “neutral” rating in a research report on Tuesday, June 28th. Loop Capital lifted their price objective on Aspen Technology from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, June 15th. Finally, Wolfe Research initiated coverage on Aspen Technology in a research report on Tuesday, August 16th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $207.20.

About Aspen Technology

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

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