Aspen Technology, Inc. (NASDAQ:AZPN) Position Cut by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC trimmed its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 12.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,148 shares of the technology company’s stock after selling 55,332 shares during the quarter. Wedge Capital Management L L P NC owned about 0.54% of Aspen Technology worth $46,623,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AZPN. William Blair Investment Management LLC grew its holdings in Aspen Technology by 32.3% in the 1st quarter. William Blair Investment Management LLC now owns 1,582,680 shares of the technology company’s stock worth $165,010,000 after buying an additional 386,376 shares in the last quarter. Riverbridge Partners LLC acquired a new stake in Aspen Technology in the second quarter worth approximately $22,156,000. Scout Investments Inc. acquired a new stake in Aspen Technology in the first quarter worth approximately $12,684,000. Cookson Peirce & Co. Inc. acquired a new stake in Aspen Technology in the second quarter worth approximately $12,722,000. Finally, First Trust Advisors LP lifted its position in Aspen Technology by 1,861.3% in the second quarter. First Trust Advisors LP now owns 86,515 shares of the technology company’s stock worth $10,752,000 after purchasing an additional 82,104 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Wedbush restated an “outperform” rating and issued a $155.00 target price (up from $146.00) on shares of Aspen Technology in a research report on Monday. JPMorgan Chase & Co. upped their target price on Aspen Technology from $114.00 to $131.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. KeyCorp upped their target price on Aspen Technology from $124.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $152.00 target price (up from $133.00) on shares of Aspen Technology in a research report on Monday. Finally, Zacks Investment Research downgraded Aspen Technology from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $129.88.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.52 EPS for the quarter, beating 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 60.30%. Aspen Technology’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. On average, research analysts predict that Aspen Technology, Inc. will post 3.17 earnings per share for the current year.
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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