Louisiana State Employees Retirement System reduced its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Free Report) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,700 shares of the technology company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Aspen Technology were worth $1,762,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Aspen Technology by 41.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,404 shares of the technology company’s stock worth $563,000 after acquiring an additional 993 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Aspen Technology by 8.8% in the first quarter. HighTower Advisors LLC now owns 5,603 shares of the technology company’s stock worth $918,000 after acquiring an additional 454 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Aspen Technology by 7.6% in the first quarter. Great West Life Assurance Co. Can now owns 36,499 shares of the technology company’s stock worth $6,201,000 after acquiring an additional 2,579 shares during the last quarter. Raymond James Trust N.A. acquired a new position in shares of Aspen Technology in the first quarter worth $222,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Aspen Technology by 1,331.8% in the first quarter. Allianz Asset Management GmbH now owns 170,315 shares of the technology company’s stock worth $28,165,000 after acquiring an additional 158,420 shares during the last quarter. 46.10% of the stock is owned by institutional investors and hedge funds.
Aspen Technology Price Performance
AZPN stock opened at $166.81 on Tuesday. Aspen Technology, Inc. has a 52-week low of $161.32 and a 52-week high of $263.59. The company has a 50-day moving average of $169.92 and a two-hundred day moving average of $196.79. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of -175.59, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93.
Insider Buying and Selling at Aspen Technology
In other Aspen Technology news, Director Jr. Robert M. Whelan sold 3,114 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $164.56, for a total transaction of $512,439.84. Following the completion of the sale, the director now directly owns 5,840 shares in the company, valued at $961,030.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on AZPN shares. KeyCorp dropped their price target on shares of Aspen Technology from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, April 27th. William Blair downgraded shares of Aspen Technology from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 27th. StockNews.com began coverage on shares of Aspen Technology in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Loop Capital lowered their target price on shares of Aspen Technology from $270.00 to $240.00 in a research report on Thursday, April 27th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Aspen Technology presently has a consensus rating of “Hold” and an average target price of $215.40.
Aspen Technology Profile
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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