F G. Hammond Sells 4,262 Shares of Aspen Technology, Inc. (NASDAQ:AZPN) Stock

Aspen Technology, Inc. (NASDAQ:AZPNGet Rating) VP F G. Hammond sold 4,262 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $211.57, for a total transaction of $901,711.34. Following the transaction, the vice president now owns 20,606 shares in the company, valued at $4,359,611.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Aspen Technology Trading Up 2.7 %

AZPN opened at $221.41 on Friday. The firm’s fifty day moving average is $201.95 and its two-hundred day moving average is $180.88. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.07 and a current ratio of 3.47. The firm has a market cap of $14.35 billion, a PE ratio of 59.04, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. Aspen Technology, Inc. has a twelve month low of $122.29 and a twelve month high of $229.60.

Aspen Technology (NASDAQ:AZPNGet Rating) last posted its earnings results on Monday, August 8th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.36. The company had revenue of $238.90 million for the quarter, compared to analyst estimates of $293.17 million. Aspen Technology had a net margin of 31.82% and a return on equity of 8.23%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the business posted $1.43 earnings per share. Equities research analysts anticipate that Aspen Technology, Inc. will post 6.16 EPS for the current year.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Aspen Technology by 6.5% in the first quarter. BlackRock Inc. now owns 6,645,133 shares of the technology company’s stock worth $1,098,905,000 after purchasing an additional 407,220 shares during the period. Vanguard Group Inc. increased its position in shares of Aspen Technology by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,336,062 shares of the technology company’s stock worth $1,047,795,000 after acquiring an additional 51,393 shares in the last quarter. Standard Investments LLC increased its position in shares of Aspen Technology by 22.2% during the fourth quarter. Standard Investments LLC now owns 2,439,000 shares of the technology company’s stock worth $371,216,000 after acquiring an additional 443,000 shares in the last quarter. FMR LLC increased its position in shares of Aspen Technology by 1.0% during the second quarter. FMR LLC now owns 2,126,791 shares of the technology company’s stock worth $390,648,000 after acquiring an additional 20,536 shares in the last quarter. Finally, State Street Corp increased its position in shares of Aspen Technology by 2.1% during the first quarter. State Street Corp now owns 1,812,165 shares of the technology company’s stock worth $299,678,000 after acquiring an additional 36,999 shares in the last quarter. 93.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AZPN. Loop Capital upped their target price on shares of Aspen Technology from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, June 15th. TheStreet lowered shares of Aspen Technology from a “b” rating to a “c+” rating in a report on Tuesday, May 17th. Piper Sandler increased their price objective on shares of Aspen Technology from $159.00 to $189.00 and gave the company a “neutral” rating in a report on Tuesday, June 28th. StockNews.com upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Wolfe Research assumed coverage on shares of Aspen Technology in a report on Tuesday, August 16th. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $207.20.

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 serves bulk chemicals, consumer packaged goods, downstream, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; power generation, transmission, and distribution industries; and engineering, procurement, and construction industries.

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