Strategic Global Advisors LLC Buys 8,952 Shares of Aspen Technology, Inc. (AZPN)

Strategic Global Advisors LLC increased its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 198.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,473 shares of the technology company’s stock after buying an additional 8,952 shares during the quarter. Strategic Global Advisors LLC’s holdings in Aspen Technology were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AZPN. BlackRock Inc. grew its stake in Aspen Technology by 46,846.9% during the 1st quarter. BlackRock Inc. now owns 5,503,112 shares of the technology company’s stock worth $324,242,000 after buying an additional 5,491,390 shares during the last quarter. FMR LLC grew its stake in Aspen Technology by 48.5% during the 1st quarter. FMR LLC now owns 4,206,339 shares of the technology company’s stock worth $247,837,000 after buying an additional 1,374,200 shares during the last quarter. Renaissance Technologies LLC grew its stake in Aspen Technology by 21.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,952,300 shares of the technology company’s stock worth $115,030,000 after buying an additional 343,800 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its stake in Aspen Technology by 304.8% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 416,171 shares of the technology company’s stock worth $22,997,000 after buying an additional 313,372 shares during the last quarter. Finally, Pictet Asset Management Ltd. grew its stake in Aspen Technology by 22.7% during the 2nd quarter. Pictet Asset Management Ltd. now owns 1,609,712 shares of the technology company’s stock worth $98,450,000 after buying an additional 297,400 shares during the last quarter.

Aspen Technology, Inc. (AZPN) traded down 0.06% on Friday, hitting $63.73. The stock had a trading volume of 649,559 shares. The firm has a market cap of $4.66 billion, a P/E ratio of 30.20 and a beta of 1.26. The firm’s 50-day moving average price is $60.38 and its 200-day moving average price is $58.82. Aspen Technology, Inc. has a 1-year low of $45.17 and a 1-year high of $64.87.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Thursday, August 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.29. Aspen Technology had a negative return on equity of 73.17% and a net margin of 33.58%. The firm had revenue of $123.68 million during the quarter, compared to the consensus estimate of $119.55 million. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Aspen Technology, Inc. will post $1.99 earnings per share for the current year.

In other Aspen Technology news, VP F G. Hammond sold 3,388 shares of Aspen Technology stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total value of $205,312.80. Following the completion of the transaction, the vice president now owns 20,733 shares in the company, valued at approximately $1,256,419.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of Aspen Technology stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total value of $116,446.66. Following the completion of the transaction, the insider now owns 28,530 shares of the company’s stock, valued at approximately $1,687,264.20. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

AZPN has been the subject of a number of recent research reports. BidaskClub downgraded Aspen Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Berenberg Bank initiated coverage on Aspen Technology in a research note on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Wednesday, August 16th. Canaccord Genuity restated a “hold” rating on shares of Aspen Technology in a research note on Friday, August 11th. Finally, Wedbush restated a “neutral” rating and set a $59.00 price objective on shares of Aspen Technology in a research note on Wednesday, June 28th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $61.75.

ILLEGAL ACTIVITY WARNING: “Strategic Global Advisors LLC Buys 8,952 Shares of Aspen Technology, Inc. (AZPN)” was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.chaffeybreeze.com/2017/09/17/strategic-global-advisors-llc-buys-8952-shares-of-aspen-technology-inc-azpn.html.

Aspen Technology Company 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.

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

Receive News & Ratings for Aspen Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply