Schwab Charles Investment Management Inc. Buys 11,737 Shares of Aspen Technology, Inc. (AZPN)
Schwab Charles Investment Management Inc. grew its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,832 shares of the technology company’s stock after purchasing an additional 11,737 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.60% of Aspen Technology worth $24,803,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of AZPN. Legato Capital Management LLC bought a new position in shares of Aspen Technology in the second quarter valued at approximately $260,000. Comerica Bank lifted its holdings in shares of Aspen Technology by 6.4% in the first quarter. Comerica Bank now owns 4,302 shares of the technology company’s stock valued at $266,000 after purchasing an additional 259 shares in the last quarter. Breton Hill Capital Ltd. bought a new position in shares of Aspen Technology in the second quarter valued at approximately $284,000. Highbridge Capital Management LLC bought a new position in shares of Aspen Technology in the first quarter valued at approximately $300,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Aspen Technology in the first quarter valued at approximately $313,000.
Shares of Aspen Technology, Inc. (NASDAQ:AZPN) opened at 63.73 on Friday. Aspen Technology, Inc. has a 12 month low of $45.17 and a 12 month high of $64.87. The stock has a market capitalization of $4.66 billion, a P/E ratio of 30.20 and a beta of 1.26. The company’s 50 day moving average price is $60.38 and its 200-day moving average price is $58.82.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Thursday, August 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.29. The business had revenue of $123.68 million for the quarter, compared to analysts’ expectations of $119.55 million. Aspen Technology had a negative return on equity of 73.17% and a net margin of 33.58%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Equities analysts predict that Aspen Technology, Inc. will post $1.99 earnings per share for the current year.
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In related news, insider Karl E. Johnsen sold 1,969 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total value of $116,446.66. Following the transaction, the insider now directly owns 28,530 shares of the company’s stock, valued at approximately $1,687,264.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP F G. Hammond sold 3,388 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $60.60, for a total value of $205,312.80. Following the completion of the transaction, the vice president now directly owns 20,733 shares in the company, valued at $1,256,419.80. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
A number of research analysts have recently weighed in on the company. BidaskClub upgraded Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered Aspen Technology from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Wedbush restated a “neutral” rating and issued 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. Finally, Berenberg Bank assumed coverage on Aspen Technology in a report on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $61.75.
Aspen Technology Profile
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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