Los Angeles Capital Management & Equity Research Inc. bought a new position in Aspen Technology, Inc. (NASDAQ:AZPN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,496 shares of the technology company’s stock, valued at approximately $2,798,000.
Several other institutional investors also recently modified their holdings of the company. TrimTabs Asset Management LLC raised its position in shares of Aspen Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,262 shares of the technology company’s stock worth $133,000 after buying an additional 1,064 shares during the period. Fortaleza Asset Management Inc. raised its position in shares of Aspen Technology by 4.3% in the fourth quarter. Fortaleza Asset Management Inc. now owns 3,615 shares of the technology company’s stock worth $198,000 after buying an additional 150 shares during the period. Pitcairn Co. bought a new position in shares of Aspen Technology during the fourth quarter worth approximately $202,000. First Republic Investment Management Inc. bought a new position in shares of Aspen Technology during the fourth quarter worth approximately $203,000. Finally, Federated Investors Inc. PA bought a new position in shares of Aspen Technology during the fourth quarter worth approximately $203,000.
Aspen Technology, Inc. (NASDAQ:AZPN) opened at 61.16 on Thursday. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 34.02 and a beta of 1.02. The company’s 50-day moving average is $59.66 and its 200 day moving average is $56.70. Aspen Technology, Inc. has a one year low of $37.39 and a one year high of $64.34.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $119.28 million during the quarter, compared to the consensus estimate of $117.64 million. Aspen Technology had a net margin of 29.29% and a negative return on equity of 117.73%. Equities analysts expect that Aspen Technology, Inc. will post $1.97 EPS for the current year.
A number of brokerages have recently commented on AZPN. Benchmark Co. reaffirmed a “hold” rating and set a $55.00 target price (up from $48.00) on shares of Aspen Technology in a research report on Wednesday, May 3rd. Robert W. Baird reaffirmed an “outperform” rating and set a $65.00 target price on shares of Aspen Technology in a research report on Thursday, May 11th. Canaccord Genuity reaffirmed a “hold” rating and set a $55.00 target price on shares of Aspen Technology in a research report on Friday, February 24th. Finally, Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Aspen Technology presently has an average rating of “Buy” and an average price target of $57.57.
In other news, EVP William Griffin sold 2,427 shares of Aspen Technology stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $58.55, for a total transaction of $142,100.85. Following the completion of the sale, the executive vice president now directly owns 46,132 shares in the company, valued at $2,701,028.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.
About Aspen Technology
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.
Want to see what other hedge funds are holding AZPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aspen Technology, Inc. (NASDAQ:AZPN).
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/47496-shares-in-aspen-technology-inc-azpn-acquired-by-los-angeles-capital-management-equity-research-inc/1870365.html
Receive News & Ratings for Aspen Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.