Aspen Technology Inc. (AZPN) EVP William Griffin Sells 1,902 Shares
Aspen Technology Inc. (NASDAQ:AZPN) EVP William Griffin sold 1,902 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $47.09, for a total transaction of $89,565.18. Following the transaction, the executive vice president now owns 53,102 shares in the company, valued at $2,500,573.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Aspen Technology Inc. (NASDAQ:AZPN) opened at 47.29 on Friday. The stock has a 50 day moving average of $46.00 and a 200-day moving average of $40.82. Aspen Technology Inc. has a 1-year low of $29.25 and a 1-year high of $47.51. The stock has a market capitalization of $3.77 billion, a P/E ratio of 28.15 and a beta of 1.06.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. The business earned $113.70 million during the quarter, compared to the consensus estimate of $112.88 million. Aspen Technology had a net margin of 29.63% and a negative return on equity of 297.67%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. Equities research analysts predict that Aspen Technology Inc. will post $1.80 earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Aspen Technology by 5.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 60,813 shares of the company’s stock worth $2,197,000 after buying an additional 3,330 shares in the last quarter. Prudential Financial Inc. increased its position in Aspen Technology by 40.2% in the first quarter. Prudential Financial Inc. now owns 186,175 shares of the company’s stock valued at $6,727,000 after buying an additional 53,400 shares during the period. Franklin Resources Inc. increased its position in Aspen Technology by 2.6% in the first quarter. Franklin Resources Inc. now owns 410,414 shares of the company’s stock valued at $14,828,000 after buying an additional 10,400 shares during the period. BlackRock Inc. increased its position in Aspen Technology by 235.7% in the first quarter. BlackRock Inc. now owns 14,211 shares of the company’s stock valued at $513,000 after buying an additional 9,978 shares during the period. Finally, BlackRock Group LTD increased its position in Aspen Technology by 27.7% in the first quarter. BlackRock Group LTD now owns 93,755 shares of the company’s stock valued at $3,387,000 after buying an additional 20,343 shares during the period.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of 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. Avondale Partners lowered shares of Aspen Technology from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $39.00 to $42.00 in a report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.71.
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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