NorthCoast Asset Management LLC increased its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 35.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,616 shares of the technology company’s stock after acquiring an additional 12,118 shares during the period. NorthCoast Asset Management LLC owned about 0.06% of Aspen Technology worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Paradigm Asset Management Co. LLC purchased a new stake in shares of Aspen Technology during the second quarter worth $138,000. Pacad Investment Ltd. purchased a new stake in shares of Aspen Technology during the second quarter worth $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Aspen Technology by 12.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock worth $183,000 after acquiring an additional 357 shares in the last quarter. TrimTabs Asset Management LLC raised its holdings in shares of Aspen Technology by 85.3% during the second quarter. TrimTabs Asset Management LLC now owns 4,192 shares of the technology company’s stock worth $232,000 after acquiring an additional 1,930 shares in the last quarter. Finally, HL Financial Services LLC raised its holdings in shares of Aspen Technology by 0.8% during the first quarter. HL Financial Services LLC now owns 4,257 shares of the technology company’s stock worth $251,000 after acquiring an additional 33 shares in the last quarter.

Aspen Technology, Inc. (AZPN) traded down 0.27% during trading on Friday, reaching $63.49. The company’s stock had a trading volume of 233,871 shares. The company has a market cap of $4.64 billion, a P/E ratio of 30.09 and a beta of 1.26. Aspen Technology, Inc. has a 52 week low of $44.60 and a 52 week high of $64.34. The company’s 50 day moving average price is $59.35 and its 200 day moving average price is $58.61.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Thursday, August 10th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.44 by $0.29. Aspen Technology had a net margin of 33.58% and a negative return on equity of 73.17%. The firm had revenue of $123.68 million for the quarter, compared to analysts’ expectations of $119.55 million. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts anticipate that Aspen Technology, Inc. will post $1.99 earnings per share for the current fiscal year.

In other Aspen Technology news, VP F G. Hammond sold 3,388 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $60.60, for a total transaction of $205,312.80. Following the sale, the vice president now directly owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Karl E. Johnsen sold 1,969 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total transaction of $116,446.66. Following the sale, the insider now directly owns 28,530 shares in the company, valued at $1,687,264.20. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Several research firms have weighed in on AZPN. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Wednesday, August 16th. Wedbush restated a “neutral” rating and set a $59.00 target price on shares of Aspen Technology in a report on Wednesday, June 28th. Canaccord Genuity restated a “hold” rating on shares of Aspen Technology in a report on Friday, August 11th. BidaskClub lowered Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Berenberg Bank began coverage on Aspen Technology in a report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 target price on the stock. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Aspen Technology currently has a consensus rating of “Buy” and an average price target of $61.75.

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

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