USA Financial Portformulas Corp Buys Shares of 5,875 Aspen Technology, Inc. (AZPN)

USA Financial Portformulas Corp bought a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,875 shares of the technology company’s stock, valued at approximately $545,000.

Other institutional investors have also added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in Aspen Technology during the 2nd quarter valued at about $847,000. Dimensional Fund Advisors LP lifted its position in Aspen Technology by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 521,195 shares of the technology company’s stock valued at $48,340,000 after purchasing an additional 3,201 shares during the period. GAM Holding AG acquired a new position in Aspen Technology during the 2nd quarter valued at about $398,000. Carillon Tower Advisers Inc. lifted its position in Aspen Technology by 67.5% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 157,975 shares of the technology company’s stock valued at $14,651,000 after purchasing an additional 63,675 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Aspen Technology by 5.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,862,800 shares of the technology company’s stock valued at $358,236,000 after purchasing an additional 194,900 shares during the period. Institutional investors own 97.93% of the company’s stock.

AZPN has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Wedbush upped their target price on shares of Aspen Technology from $80.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. BidaskClub downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. Berenberg Bank cut their target price on shares of Aspen Technology from $127.00 to $98.00 and set a “buy” rating on the stock in a research report on Tuesday, August 21st. Finally, Canaccord Genuity upped their target price on shares of Aspen Technology from $84.00 to $100.00 and gave the company a “hold” rating in a research report on Friday, August 17th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $97.63.

Shares of NASDAQ:AZPN opened at $86.33 on Friday. The company has a market capitalization of $6.01 billion, a P/E ratio of 40.23, a PEG ratio of 1.77 and a beta of 1.52. Aspen Technology, Inc. has a fifty-two week low of $64.74 and a fifty-two week high of $118.86.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.12. The business had revenue of $114.17 million for the quarter, compared to the consensus estimate of $113.49 million. Aspen Technology had a net margin of 30.96% and a negative return on equity of 168.12%. Research analysts predict that Aspen Technology, Inc. will post 2.9 earnings per share for the current fiscal year.

In related news, CEO Antonio J. Pietri sold 9,193 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $109.44, for a total value of $1,006,081.92. Following the sale, the chief executive officer now directly owns 228,730 shares in the company, valued at approximately $25,032,211.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary E. Haroian sold 10,058 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $107.30, for a total transaction of $1,079,223.40. The disclosure for this sale can be found here. Insiders sold a total of 35,637 shares of company stock worth $3,788,543 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Aspen Technology Profile

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.

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

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