Insider Selling: Aspen Technology, Inc. (AZPN) VP Sells 1,578 Shares of Stock
Aspen Technology, Inc. (NASDAQ:AZPN) VP F G. Hammond sold 1,578 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $65.00, for a total value of $102,570.00. Following the transaction, the vice president now owns 26,108 shares in the company, valued at approximately $1,697,020. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Aspen Technology, Inc. (NASDAQ:AZPN) traded up $1.77 during midday trading on Friday, hitting $66.47. The stock had a trading volume of 524,795 shares, compared to its average volume of 434,446. The stock has a market capitalization of $4.72 billion, a P/E ratio of 30.30 and a beta of 1.23.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $122.80 million for the quarter, compared to analysts’ expectations of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. research analysts anticipate that Aspen Technology, Inc. will post 1.77 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in shares of Aspen Technology by 59.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 15,373 shares of the technology company’s stock worth $966,000 after purchasing an additional 5,737 shares in the last quarter. FDx Advisors Inc. purchased a new stake in shares of Aspen Technology in the 3rd quarter worth $259,000. Alps Advisors Inc. purchased a new stake in shares of Aspen Technology in the 3rd quarter worth $458,000. Jaffetilchin Investment Partners LLC increased its stake in shares of Aspen Technology by 74.3% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 10,627 shares of the technology company’s stock worth $667,000 after purchasing an additional 4,531 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in Aspen Technology in the 3rd quarter worth $4,247,000.
A number of research analysts have weighed in on AZPN shares. Canaccord Genuity upped their target price on Aspen Technology from $62.00 to $63.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Robert W. Baird set a $63.00 price target on Aspen Technology and gave the stock a “hold” rating in a research note on Friday, October 6th. Berenberg Bank started coverage on Aspen Technology in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 price target on the stock. Zacks Investment Research upgraded Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded Aspen Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $62.50.
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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