CIBC Asset Management Inc Boosts Position in Aspen Technology, Inc. (NASDAQ:AZPN)

CIBC Asset Management Inc grew its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,032 shares of the technology company’s stock after purchasing an additional 83 shares during the period. CIBC Asset Management Inc’s holdings in Aspen Technology were worth $485,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in Aspen Technology by 1.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after purchasing an additional 65,143 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Aspen Technology by 5.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock worth $139,156,000 after buying an additional 28,820 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Aspen Technology by 38.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after buying an additional 153,897 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Aspen Technology by 26.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after buying an additional 109,783 shares during the period. Finally, Fiera Capital Corp lifted its position in Aspen Technology by 3.8% during the 2nd quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after acquiring an additional 12,500 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Up 1.1 %

Shares of Aspen Technology stock opened at $248.09 on Friday. The business has a 50-day moving average price of $237.81 and a 200 day moving average price of $216.81. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $249.91. The firm has a market cap of $15.69 billion, a P/E ratio of -427.74, a P/E/G ratio of 2.82 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. During the same quarter last year, the firm posted $0.96 earnings per share. Aspen Technology’s revenue was down 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on AZPN shares. Bank of America increased their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Loop Capital lifted their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird lifted their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com initiated coverage on Aspen Technology in a report on Friday. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $253.00.

Insider Transactions at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the transaction, the director now owns 8,540 shares in the company, valued at $1,871,114. The trade was a 10.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Aspen Technology Company Profile

Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company’s solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.