California Public Employees Retirement System trimmed its holdings in Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 148,866 shares of the technology company’s stock after selling 4,200 shares during the quarter. California Public Employees Retirement System owned about 0.22% of Aspen Technology worth $22,657,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FIL Ltd grew its stake in shares of Aspen Technology by 114.4% during the 3rd quarter. FIL Ltd now owns 1,407,329 shares of the technology company’s stock valued at $172,820,000 after purchasing an additional 750,829 shares during the period. Alpine Associates Management Inc. bought a new stake in shares of Aspen Technology during the 4th quarter valued at about $29,556,000. Bessemer Group Inc. grew its stake in shares of Aspen Technology by 14.7% during the 4th quarter. Bessemer Group Inc. now owns 1,161,734 shares of the technology company’s stock valued at $176,817,000 after purchasing an additional 148,910 shares during the period. Standard Investments LLC grew its stake in shares of Aspen Technology by 7.0% during the 3rd quarter. Standard Investments LLC now owns 1,996,000 shares of the technology company’s stock valued at $245,109,000 after purchasing an additional 130,971 shares during the period. Finally, Morgan Stanley grew its stake in shares of Aspen Technology by 333.3% during the 2nd quarter. Morgan Stanley now owns 153,954 shares of the technology company’s stock valued at $21,174,000 after purchasing an additional 118,426 shares during the period. Institutional investors own 96.49% of the company’s stock.
A number of research analysts have recently weighed in on the company. StockNews.com raised Aspen Technology from a “hold” rating to a “buy” rating in a research report on Friday. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the company from $160.00 to $175.00 in a research report on Thursday, March 17th. Finally, Zacks Investment Research raised Aspen Technology from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Aspen Technology has an average rating of “Buy” and a consensus price target of $168.57.
NASDAQ AZPN opened at $165.75 on Friday. The stock’s 50 day moving average is $156.97 and its 200 day moving average is $151.77. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.33. Aspen Technology, Inc. has a 12 month low of $122.29 and a 12 month high of $170.16. The stock has a market cap of $11.04 billion, a PE ratio of 41.33, a P/E/G ratio of 3.96 and a beta of 1.26.
Aspen Technology (NASDAQ:AZPN – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Aspen Technology had a return on equity of 40.86% and a net margin of 39.22%. The company had revenue of $187.75 million for the quarter, compared to analysts’ expectations of $190.61 million. During the same period in the previous year, the firm earned $0.94 EPS. The firm’s revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that Aspen Technology, Inc. will post 5.04 EPS for the current fiscal year.
Aspen Technology Company Profile (Get Rating)
Aspen Technology, Inc, together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates in two segments, Subscription and Software, and Services and Other. It offers asset optimization software that optimizes asset design, operations, and maintenance in various industrial environments.
- Get a free copy of the StockNews.com research report on Aspen Technology (AZPN)
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