Contravisory Investment Management Inc. Takes $162,000 Position 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 fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,245 shares of the technology company’s stock, valued at approximately $162,000.

A number of other hedge funds have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. acquired a new position in Aspen Technology during the 3rd quarter valued at approximately $74,877,000. Van ECK Associates Corp increased its holdings in Aspen Technology by 84.9% during the 3rd quarter. Van ECK Associates Corp now owns 804,228 shares of the technology company’s stock valued at $101,807,000 after purchasing an additional 369,198 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in Aspen Technology by 27.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 706,653 shares of the technology company’s stock valued at $89,456,000 after purchasing an additional 150,367 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Aspen Technology during the 3rd quarter valued at $8,862,000. Finally, Principal Financial Group Inc. increased its holdings in Aspen Technology by 32.3% during the 2nd quarter. Principal Financial Group Inc. now owns 241,993 shares of the technology company’s stock valued at $25,073,000 after purchasing an additional 59,020 shares in the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

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.

A number of research analysts have commented on the company. Zacks Investment Research lowered Aspen Technology from a “strong-buy” rating to a “hold” rating and set a $141.00 price objective on the stock. in a research report on Tuesday, October 13th. 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. Benchmark raised their price target on Aspen Technology from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, December 15th. Finally, BidaskClub lowered Aspen Technology from a “hold” rating to a “sell” rating in a research report on Thursday, October 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Aspen Technology currently has an average 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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