Aspen Technology Inc. (AZPN) EVP William Griffin Sells 1,902 Shares of Stock
Aspen Technology Inc. (NASDAQ:AZPN) EVP William Griffin sold 1,902 shares of Aspen Technology stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $47.09, for a total value of $89,565.18. Following the sale, the executive vice president now directly owns 53,102 shares of the company’s stock, valued at approximately $2,500,573.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Aspen Technology Inc. (NASDAQ:AZPN) opened at 47.29 on Friday. The stock has a 50 day moving average price of $46.00 and a 200-day moving average price of $40.82. The stock has a market capitalization of $3.77 billion, a PE ratio of 28.15 and a beta of 1.06. Aspen Technology Inc. has a 52-week low of $29.25 and a 52-week high of $47.51.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. Aspen Technology had a negative return on equity of 297.67% and a net margin of 29.63%. The business had revenue of $113.70 million for the quarter, compared to the consensus estimate of $112.88 million. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Aspen Technology Inc. will post $1.80 EPS for the current fiscal year.
A number of brokerages have issued reports on AZPN. Zacks Investment Research raised Aspen Technology from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, August 17th. Avondale Partners downgraded Aspen Technology from a “market perform” rating to an “underperform” rating and boosted their price target for the company from $39.00 to $42.00 in a report on Friday, August 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $40.71.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in Aspen Technology by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,525 shares of the company’s stock worth $102,000 after buying an additional 1,101 shares during the last quarter. Advisor Group Inc. purchased a new position in Aspen Technology during the second quarter worth about $114,000. BNP Paribas Arbitrage SA increased its position in Aspen Technology by 5,010.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,271 shares of the company’s stock worth $132,000 after buying an additional 3,207 shares in the last quarter. Toronto Dominion Bank purchased a new position in Aspen Technology during the second quarter worth about $135,000. Finally, Seven Eight Capital LLC purchased a new position in Aspen Technology during the first quarter worth about $137,000.
About Aspen Technology
Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.
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