Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPNGet Rating) by 71.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,378 shares of the technology company’s stock after selling 3,513 shares during the quarter. Martingale Asset Management L P’s holdings in Aspen Technology were worth $254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MUFG Americas Holdings Corp lifted its position in Aspen Technology by 17.4% during the first quarter. MUFG Americas Holdings Corp now owns 431 shares of the technology company’s stock valued at $71,000 after buying an additional 64 shares in the last quarter. Pitcairn Co. lifted its position in Aspen Technology by 2.9% during the first quarter. Pitcairn Co. now owns 2,838 shares of the technology company’s stock valued at $469,000 after buying an additional 80 shares in the last quarter. Curi Wealth Management LLC lifted its position in shares of Aspen Technology by 4.1% during the first quarter. Curi Wealth Management LLC now owns 2,809 shares of the technology company’s stock worth $464,000 after purchasing an additional 111 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Aspen Technology by 23.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 831 shares of the technology company’s stock worth $137,000 after purchasing an additional 157 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its position in shares of Aspen Technology by 8.6% during the first quarter. Benjamin Edwards Inc. now owns 2,416 shares of the technology company’s stock worth $400,000 after purchasing an additional 192 shares in the last quarter. 93.73% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Stock Up 0.5 %

Shares of NASDAQ:AZPN opened at $239.75 on Thursday. The company has a current ratio of 3.24, 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 $239.61 and a 200 day simple moving average of $211.89. The firm has a market cap of $15.47 billion, a PE ratio of 79.92, a price-to-earnings-growth ratio of 2.12 and a beta of 1.01. Aspen Technology, Inc. has a 12-month low of $135.48 and a 12-month high of $263.59.

Aspen Technology (NASDAQ:AZPNGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The technology company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.95. The business had revenue of $250.82 million during the quarter, compared to analyst estimates of $236.76 million. Aspen Technology had a net margin of 21.55% and a return on equity of 5.75%. The business’s revenue was up 84.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling at Aspen Technology

In other Aspen Technology news, VP F G. Hammond sold 4,262 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were 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 owns 20,606 shares in the company, valued at $4,359,611.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AZPN has been the topic of a number of recent research reports. Piper Sandler boosted their target price on shares of Aspen Technology from $189.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, September 19th. Robert W. Baird boosted their target price on shares of Aspen Technology to $242.00 in a research report on Thursday, October 27th. Wolfe Research initiated coverage on shares of Aspen Technology in a research report on Tuesday, August 16th. They set a “market perform” rating on the stock. StockNews.com initiated coverage on shares of Aspen Technology in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, KeyCorp boosted their target price on shares of Aspen Technology from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, October 27th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Aspen Technology has a consensus rating of “Hold” and an average target price of $243.40.

Aspen Technology Profile

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Aspen Technology together with its subsidiaries develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes. Its software applications utilize proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.

See Also

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

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