Insider Selling: Aspen Technology, Inc. (AZPN) Insider Sells 1,969 Shares of Stock
Aspen Technology, Inc. (NASDAQ:AZPN) insider Karl E. Johnsen sold 1,969 shares of Aspen Technology 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 completion of the sale, the insider now owns 28,530 shares of the company’s stock, valued at approximately $1,687,264.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Aspen Technology, Inc. (NASDAQ:AZPN) traded down 2.36% during trading on Thursday, reaching $58.38. 434,559 shares of the company were exchanged. Aspen Technology, Inc. has a one year low of $44.60 and a one year high of $64.34. The company has a market capitalization of $4.27 billion, a P/E ratio of 27.67 and a beta of 1.28. The firm’s 50-day moving average is $56.90 and its 200 day moving average is $57.91.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29. The business had revenue of $123.68 million for the quarter, compared to the consensus estimate of $119.55 million. Aspen Technology had a net margin of 33.58% and a negative return on equity of 73.17%. Aspen Technology’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. On average, analysts anticipate that Aspen Technology, Inc. will post $1.99 EPS for the current fiscal year.
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Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Friday, May 5th. BidaskClub upgraded shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Wedbush restated a “neutral” rating and issued a $59.00 target price on shares of Aspen Technology in a research report on Wednesday, June 28th. Canaccord Genuity restated a “hold” rating on shares of Aspen Technology in a research report on Friday, August 11th. Finally, Robert W. Baird assumed coverage on shares of Aspen Technology in a research report on Wednesday, May 10th. They issued a “neutral” rating and a $63.00 target price for the company. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $60.57.
A number of large investors have recently made changes to their positions in AZPN. Cookson Peirce & Co. Inc. increased its stake in shares of Aspen Technology by 51.0% in the second quarter. Cookson Peirce & Co. Inc. now owns 6,230 shares of the technology company’s stock worth $344,000 after buying an additional 2,105 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Aspen Technology by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 51,326 shares of the technology company’s stock worth $2,836,000 after buying an additional 293 shares in the last quarter. Koch Industries Inc. increased its stake in shares of Aspen Technology by 8,875.5% in the second quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock worth $1,164,000 after buying an additional 1,171,746 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Aspen Technology during the second quarter worth $2,107,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Aspen Technology during the second quarter worth $530,000.
Aspen Technology Company 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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