NJ State Employees Deferred Compensation Plan trimmed its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 60.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the technology company’s stock after selling 15,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Aspen Technology were worth $628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Koch Industries Inc. grew its holdings in Aspen Technology by 8,875.5% during the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 1,171,746 shares in the last quarter. Jennison Associates LLC grew its holdings in Aspen Technology by 354.1% during the 2nd quarter. Jennison Associates LLC now owns 31,854 shares of the technology company’s stock valued at $1,760,000 after purchasing an additional 24,839 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Aspen Technology during the 1st quarter valued at $314,000. Credit Suisse AG grew its holdings in Aspen Technology by 37.2% during the 1st quarter. Credit Suisse AG now owns 109,284 shares of the technology company’s stock valued at $6,439,000 after purchasing an additional 29,605 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Aspen Technology by 444.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,636 shares of the technology company’s stock valued at $532,000 after purchasing an additional 7,865 shares in the last quarter.

A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity increased their price objective on shares of Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Robert W. Baird set a $63.00 price objective on shares of Aspen Technology and gave the company a “hold” rating in a research note on Friday, October 6th. Berenberg Bank assumed coverage on shares of Aspen Technology in a research note on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price objective on the stock. Finally, BidaskClub upgraded shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $62.50.

In other Aspen Technology news, 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 transaction of $116,446.66. Following the sale, the insider now owns 28,530 shares in the company, valued at $1,687,264.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl E. Johnsen sold 2,619 shares of Aspen Technology stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $64.41, for a total transaction of $168,689.79. Following the sale, the insider now owns 40,063 shares in the company, valued at approximately $2,580,457.83. The disclosure for this sale can be found here. Insiders have sold 7,976 shares of company stock worth $490,449 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ 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 previous year, the firm posted $0.49 earnings per share. Aspen Technology’s revenue was up 2.2% compared to the same quarter last year.

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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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