Bank Julius Baer & Co. Ltd Zurich Buys New Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in Aspen Technology, Inc. (NASDAQ:AZPNGet Rating) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 4,285 shares of the technology company’s stock, valued at approximately $1,021,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZPN. Allianz Asset Management GmbH increased its holdings in Aspen Technology by 146.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 419,868 shares of the technology company’s stock worth $77,121,000 after acquiring an additional 249,553 shares in the last quarter. Raymond James & Associates increased its holdings in Aspen Technology by 211.5% in the 3rd quarter. Raymond James & Associates now owns 168,349 shares of the technology company’s stock worth $40,101,000 after acquiring an additional 114,312 shares in the last quarter. First Trust Advisors LP purchased a new stake in Aspen Technology in the 1st quarter worth $16,300,000. The Manufacturers Life Insurance Company increased its holdings in Aspen Technology by 269.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 101,982 shares of the technology company’s stock worth $24,292,000 after acquiring an additional 74,371 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Aspen Technology by 23.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 288,277 shares of the technology company’s stock worth $52,950,000 after acquiring an additional 53,990 shares in the last quarter. Hedge funds and other institutional investors own 44.40% of the company’s stock.

Insider Activity at Aspen Technology

In related news, VP F G. Hammond sold 2,495 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $223.75, for a total value of $558,256.25. Following the completion of the sale, the vice president now owns 20,152 shares of the company’s stock, valued at $4,509,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Aspen Technology Trading Down 0.5 %

Shares of AZPN opened at $198.25 on Wednesday. Aspen Technology, Inc. has a 12-month low of $135.48 and a 12-month high of $263.59. The firm has a 50-day moving average price of $214.00 and a 200 day moving average price of $218.80. The firm has a market capitalization of $12.80 billion, a P/E ratio of 66.08, a P/E/G ratio of 1.80 and a beta of 1.01.

Aspen Technology (NASDAQ:AZPNGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The technology company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.89. Aspen Technology had a net margin of 21.55% and a return on equity of 5.75%. The firm had revenue of $250.82 million during the quarter, compared to analyst estimates of $236.76 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Aspen Technology’s quarterly revenue was up 84.4% on a year-over-year basis. Equities research analysts predict that Aspen Technology, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird cut their price target on shares of Aspen Technology from $242.00 to $224.00 and set a “neutral” rating for the company in a report on Wednesday, January 18th. KeyCorp upped their target price on shares of Aspen Technology from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. StockNews.com initiated coverage on shares of Aspen Technology in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Berenberg Bank initiated coverage on shares of Aspen Technology in a report on Wednesday, January 11th. They set a “hold” rating and a $210.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $234.83.

About Aspen Technology

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Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.

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

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