Essex Investment Management Co. LLC boosted its stake in Aspen Technology Inc. (NASDAQ:AZPN) by 119.5% during the second quarter, Holdings Channel reports. The fund owned 12,300 shares of the company’s stock after buying an additional 6,696 shares during the period. Essex Investment Management Co. LLC’s holdings in Aspen Technology were worth $495,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in AZPN. Virginia Retirement System purchased a new stake in Aspen Technology during the first quarter valued at $1,452,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Aspen Technology by 5.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 60,813 shares of the company’s stock valued at $2,197,000 after buying an additional 3,330 shares during the last quarter. Prudential Financial Inc. boosted its stake in Aspen Technology by 40.2% in the first quarter. Prudential Financial Inc. now owns 186,175 shares of the company’s stock valued at $6,727,000 after buying an additional 53,400 shares during the last quarter. Franklin Resources Inc. boosted its stake in Aspen Technology by 2.6% in the first quarter. Franklin Resources Inc. now owns 410,414 shares of the company’s stock valued at $14,828,000 after buying an additional 10,400 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Aspen Technology by 235.7% in the first quarter. BlackRock Inc. now owns 14,211 shares of the company’s stock valued at $513,000 after buying an additional 9,978 shares during the last quarter.
Aspen Technology Inc. (NASDAQ:AZPN) traded up 0.25% during trading on Thursday, hitting $47.24. The stock had a trading volume of 320,896 shares. Aspen Technology Inc. has a 52 week low of $29.25 and a 52 week high of $47.39. The company has a 50-day moving average of $45.95 and a 200-day moving average of $40.74. The stock has a market capitalization of $3.77 billion, a P/E ratio of 28.12 and a beta of 1.06.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, August 11th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business earned $113.70 million during the quarter, compared to analyst estimates of $112.88 million. Aspen Technology had a net margin of 29.63% and a negative return on equity of 297.67%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. On average, equities analysts expect that Aspen Technology Inc. will post $1.80 earnings per share for the current fiscal year.
Several analysts recently weighed in on the company. Zacks Investment Research cut Aspen Technology from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Avondale Partners cut Aspen Technology from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $39.00 to $42.00 in a report on Friday, August 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.71.
In other Aspen Technology news, CEO Antonio J. Pietri sold 4,500 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $45.03, for a total transaction of $202,635.00. Following the completion of the sale, the chief executive officer now directly owns 152,750 shares in the company, valued at approximately $6,878,332.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP F G. Hammond sold 18,542 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $45.91, for a total transaction of $851,263.22. Following the sale, the vice president now owns 48,885 shares of the company’s stock, valued at $2,244,310.35. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.
About Aspen Technology
Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.