Insider Selling: Aspen Technology, Inc. (AZPN) Insider Sells 2,619 Shares of Stock
Aspen Technology, Inc. (NASDAQ:AZPN) insider Karl E. Johnsen sold 2,619 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $64.41, for a total value of $168,689.79. Following the transaction, the insider now directly owns 40,063 shares of the company’s stock, valued at $2,580,457.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.48 by $0.05. The firm had revenue of $122.80 million during the quarter, compared to analyst estimates of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. Aspen Technology’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS.
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Several equities analysts have weighed in on AZPN shares. Berenberg Bank started coverage on Aspen Technology in a report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research raised Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird set a $63.00 price objective on Aspen Technology and gave the company a “hold” rating in a report on Friday, October 6th. BidaskClub raised Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Aspen Technology in a report on Friday, August 11th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.50.
Several large investors have recently bought and sold shares of the company. American Century Companies Inc. purchased a new stake in shares of Aspen Technology in the 3rd quarter worth $4,247,000. Old Mutual Global Investors UK Ltd. increased its stake in shares of Aspen Technology by 19.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 498,233 shares of the technology company’s stock worth $31,294,000 after purchasing an additional 82,062 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of Aspen Technology in the 3rd quarter worth $203,000. Pictet Asset Management Ltd. increased its stake in shares of Aspen Technology by 14.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,837,321 shares of the technology company’s stock worth $115,402,000 after purchasing an additional 227,609 shares in the last quarter. Finally, First Manhattan Co. purchased a new stake in shares of Aspen Technology in the 3rd quarter worth $125,000.
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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