Contravisory Investment Management Inc. Makes New Investment in Aspen Technology, Inc. (NASDAQ:AZPN)


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Contravisory Investment Management Inc. bought a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,245 shares of the technology company’s stock, valued at approximately $162,000.

Several other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors boosted its position in Aspen Technology by 7.0% during the 2nd quarter. Captrust Financial Advisors now owns 2,232 shares of the technology company’s stock valued at $232,000 after purchasing an additional 146 shares during the period. Globeflex Capital L P acquired a new position in Aspen Technology during the third quarter valued at $116,000. ExodusPoint Capital Management LP acquired a new position in Aspen Technology during the third quarter valued at $722,000. Two Sigma Advisers LP acquired a new position in Aspen Technology during the second quarter valued at $1,243,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Aspen Technology by 9.1% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,826 shares of the technology company’s stock valued at $500,000 after purchasing an additional 404 shares in the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:AZPN opened at $140.97 on Thursday. The company has a fifty day moving average of $134.11 and a 200-day moving average of $121.38. The company has a market capitalization of $9.56 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 1.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 2.89. Aspen Technology, Inc. has a 52-week low of $73.07 and a 52-week high of $145.41.

Several research firms have recently issued reports on AZPN. BidaskClub lowered Aspen Technology from a “hold” rating to a “sell” rating in a research report on Thursday, October 29th. Bank of America restated a “neutral” rating and issued a $140.00 price target on shares of Aspen Technology in a research report on Wednesday, September 23rd. Zacks Investment Research lowered Aspen Technology from a “strong-buy” rating to a “hold” rating and set a $141.00 price target on the stock. in a research report on Tuesday, October 13th. Finally, Benchmark raised their price objective on Aspen Technology from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, December 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $128.75.

In related news, CFO Karl E. Johnsen sold 1,289 shares of the business’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $128.01, for a total value of $165,004.89. Following the sale, the chief financial officer now owns 15,139 shares of the company’s stock, valued at $1,937,943.39. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Aspen Technology Profile

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.

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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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