Balyasny Asset Management LLC decreased its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 96.4% in the second quarter, HoldingsChannel reports. The firm owned 10,071 shares of the technology company’s stock after selling 266,401 shares during the quarter. Balyasny Asset Management LLC’s holdings in Aspen Technology were worth $1,252,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Putnam Investments LLC raised its position in Aspen Technology by 1.6% during the 2nd quarter. Putnam Investments LLC now owns 86,240 shares of the technology company’s stock valued at $10,718,000 after purchasing an additional 1,339 shares during the last quarter. Two Creeks Capital Management LP raised its position in Aspen Technology by 9.0% during the 2nd quarter. Two Creeks Capital Management LP now owns 989,160 shares of the technology company’s stock valued at $122,933,000 after purchasing an additional 81,497 shares during the last quarter. A.R.T. Advisors LLC raised its position in Aspen Technology by 14.9% during the 2nd quarter. A.R.T. Advisors LLC now owns 20,840 shares of the technology company’s stock valued at $2,590,000 after purchasing an additional 2,700 shares during the last quarter. Holocene Advisors LP raised its position in Aspen Technology by 66.1% during the 2nd quarter. Holocene Advisors LP now owns 7,703 shares of the technology company’s stock valued at $957,000 after purchasing an additional 3,066 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in Aspen Technology during the 2nd quarter valued at approximately $4,459,000. 97.30% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on AZPN. BidaskClub raised Aspen Technology from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Aspen Technology from $131.00 to $123.00 and set an “underweight” rating for the company in a research report on Wednesday, September 11th. Benchmark reaffirmed a “buy” rating and set a $152.00 price target (up previously from $133.00) on shares of Aspen Technology in a research report on Monday, August 12th. ValuEngine lowered Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Canaccord Genuity upped their price target on Aspen Technology from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $134.57.
In related news, CFO Karl E. Johnsen sold 2,972 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $136.80, for a total value of $406,569.60. Following the transaction, the chief financial officer now directly owns 22,150 shares of the company’s stock, valued at approximately $3,030,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.
AZPN stock opened at $120.96 on Friday. Aspen Technology, Inc. has a fifty-two week low of $74.84 and a fifty-two week high of $142.15. The business’s 50 day moving average price is $131.09 and its two-hundred day moving average price is $121.38. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 32.08 and a beta of 1.59.
Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.50. Aspen Technology had a return on equity of 62.06% and a net margin of 43.91%. The firm had revenue of $195.77 million for the quarter, compared to the consensus estimate of $162.71 million. During the same quarter in the prior year, the business earned $0.59 EPS. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. Research analysts forecast that Aspen Technology, Inc. will post 3.08 earnings per share 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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