Hexavest Inc. Acquires New Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Hexavest Inc. acquired a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,860 shares of the technology company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZPN. Capital Investment Advisory Services LLC bought a new position in Aspen Technology in the second quarter valued at approximately $29,000. Kavar Capital Partners LLC bought a new position in Aspen Technology in the second quarter valued at approximately $54,000. Daiwa Securities Group Inc. bought a new position in Aspen Technology in the second quarter valued at approximately $68,000. Parkside Financial Bank & Trust bought a new position in Aspen Technology in the second quarter valued at approximately $74,000. Finally, Meridian Wealth Management LLC bought a new position in Aspen Technology in the first quarter valued at approximately $76,000. Hedge funds and other institutional investors own 97.30% of the company’s stock.

Shares of AZPN stock opened at $121.55 on Friday. The company’s fifty day simple moving average is $126.89 and its 200-day simple moving average is $122.73. The firm has a market cap of $8.28 billion, a PE ratio of 32.24 and a beta of 1.55. Aspen Technology, Inc. has a 12 month low of $74.84 and a 12 month high of $142.15.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.50. The business had revenue of $195.77 million for the quarter, compared to analyst estimates of $162.71 million. Aspen Technology had a net margin of 43.91% and a return on equity of 62.06%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, equities analysts predict that Aspen Technology, Inc. will post 3.08 EPS for the current year.

AZPN has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of Aspen Technology from $131.00 to $123.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 11th. KeyCorp lifted their price target on shares of Aspen Technology from $124.00 to $141.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. ValuEngine lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Canaccord Genuity lifted their price target on shares of Aspen Technology from $126.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, BidaskClub raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Aspen Technology has a consensus rating of “Hold” and a consensus price target of $134.57.

In other news, CFO Karl E. Johnsen sold 2,972 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $136.80, for a total value of $406,569.60. Following the sale, the chief financial officer now owns 22,150 shares of the company’s stock, valued at $3,030,120. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

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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