76,459 Shares in Aspen Technology, Inc. (AZPN) Acquired by Convergence Investment Partners LLC
Convergence Investment Partners LLC purchased a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 76,459 shares of the technology company’s stock, valued at approximately $4,225,000. Aspen Technology makes up approximately 0.6% of Convergence Investment Partners LLC’s portfolio, making the stock its 26th largest position.
Several other hedge funds also recently bought and sold shares of AZPN. TrimTabs Asset Management LLC boosted its position in Aspen Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,262 shares of the technology company’s stock valued at $133,000 after buying an additional 1,064 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in Aspen Technology during the first quarter valued at about $243,000. HL Financial Services LLC boosted its position in Aspen Technology by 0.8% in the first quarter. HL Financial Services LLC now owns 4,257 shares of the technology company’s stock valued at $251,000 after buying an additional 33 shares during the period. Legato Capital Management LLC acquired a new position in Aspen Technology during the second quarter valued at about $260,000. Finally, Comerica Bank boosted its position in Aspen Technology by 6.4% in the first quarter. Comerica Bank now owns 4,302 shares of the technology company’s stock valued at $266,000 after buying an additional 259 shares during the period.
Aspen Technology, Inc. (NASDAQ AZPN) opened at 59.86 on Friday. The stock’s 50 day moving average price is $56.56 and its 200 day moving average price is $57.81. Aspen Technology, Inc. has a 12-month low of $44.55 and a 12-month high of $64.34. The company has a market capitalization of $4.39 billion, a PE ratio of 28.37 and a beta of 1.28.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29. The firm had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. Aspen Technology had a net margin of 33.58% and a negative return on equity of 77.74%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities analysts anticipate that Aspen Technology, Inc. will post $2.03 EPS for the current fiscal year.
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Several equities analysts recently issued reports on AZPN shares. BidaskClub cut Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Friday, May 5th. Canaccord Genuity reaffirmed a “hold” rating on shares of Aspen Technology in a research report on Friday. Benchmark Co. reaffirmed a “hold” rating and issued a $55.00 price objective (up from $48.00) on shares of Aspen Technology in a research report on Wednesday, May 3rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $59.00 price objective on shares of Aspen Technology in a research report on Wednesday, June 28th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Aspen Technology presently has an average rating of “Buy” and an average price target of $60.29.
About Aspen Technology
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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