Bessemer Group Inc. Increases Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Bessemer Group Inc. raised its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,806 shares of the technology company’s stock after buying an additional 1,606 shares during the period. Bessemer Group Inc.’s holdings in Aspen Technology were worth $1,965,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Machina Capital S.A.S. acquired a new position in shares of Aspen Technology in the 2nd quarter valued at $109,000. Oakbrook Investments LLC boosted its holdings in Aspen Technology by 93.5% in the second quarter. Oakbrook Investments LLC now owns 3,725 shares of the technology company’s stock valued at $463,000 after purchasing an additional 1,800 shares during the last quarter. Exane Derivatives purchased a new stake in Aspen Technology in the second quarter valued at $1,632,000. Riverbridge Partners LLC purchased a new stake in Aspen Technology in the second quarter valued at $22,156,000. Finally, Scout Investments Inc. boosted its holdings in Aspen Technology by 14.4% in the second quarter. Scout Investments Inc. now owns 139,234 shares of the technology company’s stock valued at $17,304,000 after purchasing an additional 17,577 shares during the last quarter. Institutional investors and hedge funds own 98.90% of the company’s stock.

Several equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $80.00 price target (up from $72.00) on shares of Pegasystems in a report on Wednesday, May 8th. Zacks Investment Research lowered shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Wedbush set a $19.00 price target on shares of Symantec and gave the company a “hold” rating in a report on Monday, July 15th. Canaccord Genuity lowered their price target on shares of Delta 9 Cannabis from C$2.40 to C$2.20 in a report on Thursday, April 25th. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $119.13.

Shares of AZPN stock traded up $1.69 during mid-day trading on Friday, hitting $138.00. 9,771 shares of the stock were exchanged, compared to its average volume of 340,505. The stock’s fifty day moving average price is $127.42. Aspen Technology, Inc. has a 52-week low of $74.84 and a 52-week high of $136.83. The company has a market capitalization of $9.43 billion, a P/E ratio of 67.00 and a beta of 1.56.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. The business had revenue of $148.00 million for the quarter, compared to analyst estimates of $136.38 million. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts anticipate that Aspen Technology, Inc. will post 3.26 EPS for the current fiscal year.

In other Aspen Technology news, CEO Antonio J. Pietri sold 5,900 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $118.81, for a total value of $700,979.00. Following the completion of the sale, the chief executive officer now owns 207,497 shares in the company, valued at approximately $24,652,718.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Antonio J. Pietri sold 44,754 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $119.30, for a total transaction of $5,339,152.20. Following the completion of the sale, the chief executive officer now owns 227,577 shares of the company’s stock, valued at approximately $27,149,936.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,597 shares of company stock worth $8,580,241. Corporate insiders own 0.90% of the company’s stock.

Aspen Technology Company Profile

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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