Hexavest Inc. acquired a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,479 shares of the technology company’s stock, valued at approximately $168,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AZPN. Millennium Management LLC acquired a new stake in shares of Aspen Technology in the second quarter valued at approximately $53,964,000. Virginia Retirement Systems ET AL raised its holdings in shares of Aspen Technology by 993.9% in the second quarter. Virginia Retirement Systems ET AL now owns 305,200 shares of the technology company’s stock valued at $28,304,000 after purchasing an additional 277,300 shares during the last quarter. FMR LLC raised its holdings in shares of Aspen Technology by 12.8% in the second quarter. FMR LLC now owns 2,208,130 shares of the technology company’s stock valued at $204,782,000 after purchasing an additional 250,691 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Aspen Technology in the first quarter valued at approximately $19,038,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Aspen Technology in the second quarter valued at approximately $20,703,000. Institutional investors own 98.40% of the company’s stock.

A number of analysts have recently issued reports on AZPN shares. Wedbush lifted their price objective on shares of Aspen Technology from $80.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Berenberg Bank lowered their price objective on shares of Aspen Technology from $127.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, August 21st. BidaskClub downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. ValuEngine downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Monday, July 2nd. Finally, Canaccord Genuity boosted their target price on shares of Aspen Technology from $84.00 to $100.00 and gave the stock a “hold” rating in a report on Friday, August 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Aspen Technology currently has a consensus rating of “Hold” and an average price target of $97.63.

In related news, VP F G. Hammond sold 3,311 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $107.51, for a total transaction of $355,965.61. Following the transaction, the vice president now directly owns 21,029 shares in the company, valued at $2,260,827.79. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary E. Haroian sold 10,058 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $107.30, for a total transaction of $1,079,223.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,250 shares of company stock worth $3,595,936. 0.80% of the stock is owned by corporate insiders.

Shares of AZPN opened at $101.63 on Friday. The firm has a market cap of $8.09 billion, a P/E ratio of 49.33, a PEG ratio of 2.42 and a beta of 1.27. Aspen Technology, Inc. has a 1-year low of $61.71 and a 1-year high of $118.86.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The business had revenue of $125.96 million for the quarter, compared to the consensus estimate of $125.60 million. Aspen Technology had a net margin of 29.77% and a negative return on equity of 53.91%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. Analysts anticipate that Aspen Technology, Inc. will post 2.85 EPS for the current year.

About Aspen Technology

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.

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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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