Today: The Sit Investment Associates Inc. reaches $4,497,000 position of Aspen Technology Inc. (AZPN)

The Sit Investment Associates Inc. reaches $4,497,000 position  of Aspen Technology Inc. (AZPN)

Sit Investment Associates Inc. held its stake in Aspen Technology Inc. (NASDAQ:AZPN) during the second quarter, Holdings Channel reports. The fund owned 111,755 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Aspen Technology were worth $4,497,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. ClariVest Asset Management LLC boosted its stake in Aspen Technology by 15.4% in the second quarter. ClariVest Asset Management LLC now owns 41,141 shares of the company’s stock valued at $1,655,000 after buying an additional 5,500 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in Aspen Technology by 119.5% in the second quarter. Essex Investment Management Co. LLC now owns 12,300 shares of the company’s stock valued at $495,000 after buying an additional 6,696 shares during the last quarter. Bank of Montreal Can acquired a new stake in Aspen Technology during the second quarter valued at $2,168,000. Nordea Investment Management AB boosted its stake in Aspen Technology by 268.8% in the second quarter. Nordea Investment Management AB now owns 15,872 shares of the company’s stock valued at $639,000 after buying an additional 11,568 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. boosted its stake in Aspen Technology by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 240,353 shares of the company’s stock valued at $9,671,000 after buying an additional 6,342 shares during the last quarter.

Shares of Aspen Technology Inc. (NASDAQ:AZPN) traded up 0.11% during trading on Friday, reaching $47.29. The company’s stock had a trading volume of 551,786 shares. 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 cap of $3.77 billion, a price-to-earnings ratio of 28.15 and a beta of 1.06. Aspen Technology Inc. has a 12-month low of $29.25 and a 12-month high of $47.51.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Aspen Technology had a negative return on equity of 297.67% and a net margin of 29.63%. The business earned $113.70 million during the quarter, compared to analyst estimates of $112.88 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. Aspen Technology’s revenue for the quarter was down .4% on a year-over-year basis. Analysts forecast that Aspen Technology Inc. will post $1.80 EPS for the current year.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Aspen Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Wednesday, August 17th. Avondale Partners cut Aspen Technology from a “market perform” rating to an “underperform” rating and raised their price objective for the company from $39.00 to $42.00 in a report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $40.71.

In other news, CEO Antonio J. Pietri sold 4,500 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $45.03, for a total value of $202,635.00. Following the completion of the transaction, the chief executive officer now owns 152,750 shares of the company’s stock, valued at $6,878,332.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP F G. Hammond sold 18,542 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $45.91, for a total value of $851,263.22. Following the completion of the transaction, the vice president now directly owns 48,885 shares of the company’s stock, valued at approximately $2,244,310.35. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Aspen Technology Company Profile

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.

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