First Trust Advisors LP Reduces Position in Aspen Technology, Inc. (AZPN)

First Trust Advisors LP lessened its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 72.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,599 shares of the technology company’s stock after selling 33,744 shares during the quarter. First Trust Advisors LP’s holdings in Aspen Technology were worth $791,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Fox Run Management L.L.C. bought a new stake in Aspen Technology in the 3rd quarter valued at $540,000. APG Asset Management N.V. bought a new stake in Aspen Technology in the 3rd quarter valued at $8,096,000. Cookson Peirce & Co. Inc. increased its holdings in Aspen Technology by 51.0% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 6,230 shares of the technology company’s stock valued at $344,000 after buying an additional 2,105 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Aspen Technology by 0.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 51,326 shares of the technology company’s stock valued at $2,836,000 after buying an additional 293 shares during the period. Finally, Koch Industries Inc. increased its holdings in Aspen Technology by 8,875.5% in the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock valued at $1,164,000 after buying an additional 1,171,746 shares during the period.

AZPN has been the topic of several analyst reports. Berenberg Bank initiated coverage on shares of Aspen Technology in a report on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 price target on the stock. Zacks Investment Research lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird set a $63.00 price target on shares of Aspen Technology and gave the company a “hold” rating in a report on Friday, October 6th. Bank of America initiated coverage on shares of Aspen Technology in a report on Monday, November 6th. They issued a “neutral” rating and a $67.00 price target on the stock. Finally, Canaccord Genuity boosted their price target on shares of Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 27th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.63.

Shares of Aspen Technology, Inc. (NASDAQ AZPN) opened at $66.76 on Thursday. Aspen Technology, Inc. has a fifty-two week low of $52.23 and a fifty-two week high of $69.38. The firm has a market cap of $4,828.68, a PE ratio of 30.96 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. Aspen Technology had a net margin of 33.35% and a negative return on equity of 66.74%. The business had revenue of $122.80 million for the quarter, compared to analyst estimates of $121.73 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts predict that Aspen Technology, Inc. will post 1.77 earnings per share for the current year.

In related news, VP F G. Hammond sold 1,578 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $65.00, for a total transaction of $102,570.00. Following the transaction, the vice president now owns 26,108 shares in the company, valued at approximately $1,697,020. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jr. Robert M. Whelan sold 10,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $66.01, for a total transaction of $660,100.00. Following the transaction, the director now owns 25,559 shares in the company, valued at approximately $1,687,149.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,197 shares of company stock worth $931,360. 0.60% of the stock is owned by insiders.

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Aspen Technology Profile

Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.

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

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