First Manhattan Co. Buys New Stake in Aspen Technology, Inc. (AZPN)

First Manhattan Co. bought a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,000 shares of the technology company’s stock, valued at approximately $125,000.

Several other institutional investors also recently bought and sold shares of the company. First Midwest Bank Trust Division grew its position in shares of Aspen Technology by 111.9% during the 3rd quarter. First Midwest Bank Trust Division now owns 20,650 shares of the technology company’s stock worth $1,297,000 after buying an additional 10,906 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Aspen Technology during the 3rd quarter worth about $540,000. APG Asset Management N.V. acquired a new position in shares of Aspen Technology in the 3rd quarter valued at approximately $8,096,000. Cookson Peirce & Co. Inc. grew its position in shares of Aspen Technology by 51.0% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 6,230 shares of the technology company’s stock valued at $344,000 after purchasing an additional 2,105 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Aspen Technology by 0.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 51,326 shares of the technology company’s stock valued at $2,836,000 after purchasing an additional 293 shares during the period.

AZPN has been the subject of several research analyst reports. Berenberg Bank initiated coverage on Aspen Technology in a research report on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research upgraded Aspen Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Robert W. Baird set a $63.00 price objective on Aspen Technology and gave the company a “hold” rating in a research report on Friday, October 6th. BidaskClub upgraded Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Aspen Technology in a research report on Friday, August 11th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $62.50.

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In other Aspen Technology news, VP F G. Hammond sold 1,578 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $65.00, for a total value of $102,570.00. Following the sale, the vice president now owns 26,108 shares in the company, valued at approximately $1,697,020. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl E. Johnsen sold 1,969 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total value of $116,446.66. Following the completion of the sale, the insider now owns 28,530 shares in the company, valued at approximately $1,687,264.20. The disclosure for this sale can be found here. Insiders sold a total of 9,554 shares of company stock worth $593,019 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Shares of Aspen Technology, Inc. (NASDAQ AZPN) opened at $66.47 on Friday. The company has a market cap of $4,821.40, a P/E ratio of 30.92 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The firm had revenue of $122.80 million for the quarter, compared to analysts’ expectations of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 EPS. analysts expect that Aspen Technology, Inc. will post 1.77 earnings per share for the current year.

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.

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

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