Howland Capital Management LLC Sells 470 Shares of Aspen Technology Inc. (AZPN)
Howland Capital Management LLC decreased its position in Aspen Technology Inc. (NASDAQ:AZPN) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,580 shares of the company’s stock after selling 470 shares during the period. Howland Capital Management LLC owned 0.26% of Aspen Technology worth $9,759,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS raised its position in Aspen Technology by 33.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 307,920 shares of the company’s stock worth $12,391,000 after buying an additional 77,295 shares during the period. Nordea Investment Management AB raised its position in Aspen Technology by 268.8% in the second quarter. Nordea Investment Management AB now owns 15,872 shares of the company’s stock worth $639,000 after buying an additional 11,568 shares during the period. ClariVest Asset Management LLC raised its position in Aspen Technology by 15.4% in the second quarter. ClariVest Asset Management LLC now owns 41,141 shares of the company’s stock worth $1,655,000 after buying an additional 5,500 shares during the period. Essex Investment Management Co. LLC raised its position in Aspen Technology by 119.5% in the second quarter. Essex Investment Management Co. LLC now owns 12,300 shares of the company’s stock worth $495,000 after buying an additional 6,696 shares during the period. Finally, Bank of Montreal Can bought a new position in Aspen Technology during the second quarter worth approximately $2,168,000.
Aspen Technology Inc. (NASDAQ:AZPN) traded down 0.19% during midday trading on Monday, hitting $52.79. The company had a trading volume of 482,242 shares. Aspen Technology Inc. has a 52 week low of $29.25 and a 52 week high of $53.17. The firm has a market capitalization of $4.08 billion, a P/E ratio of 31.44 and a beta of 1.00. The firm’s 50 day moving average is $48.81 and its 200-day moving average is $43.84.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10. The firm had revenue of $120.10 million for the quarter, compared to analysts’ expectations of $116.48 million. Aspen Technology had a net margin of 29.27% and a negative return on equity of 181.66%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, equities research analysts expect that Aspen Technology Inc. will post $1.83 EPS for the current fiscal year.
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A number of brokerages have weighed in on AZPN. Zacks Investment Research raised Aspen Technology from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, August 17th. Pacific Crest raised their target price on Aspen Technology from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, November 22nd. Canaccord Genuity reaffirmed a “hold” rating and issued a $46.00 target price on shares of Aspen Technology in a report on Friday, October 28th. Finally, Avondale Partners downgraded Aspen Technology from a “market perform” rating to an “underperform” rating and raised their target price for the company from $39.00 to $42.00 in a report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $45.00.
In related news, CEO Antonio J. Pietri sold 4,400 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $51.47, for a total value of $226,468.00. Following the completion of the transaction, the chief executive officer now directly owns 218,049 shares in the company, valued at $11,222,982.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Griffin sold 1,902 shares of the company’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $47.09, for a total transaction of $89,565.18. Following the completion of the transaction, the executive vice president now owns 53,102 shares of the company’s stock, valued at $2,500,573.18. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.
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.
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