State Street Corp increased its stake in Aspen Technology Inc. (NASDAQ:AZPN) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,667,966 shares of the company’s stock after buying an additional 45,732 shares during the period. State Street Corp owned about 2.00% of Aspen Technology worth $60,261,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new stake in Aspen Technology during the first quarter valued at approximately $249,000. BlackRock Japan Co. Ltd increased its stake in Aspen Technology by 168.7% in the first quarter. BlackRock Japan Co. Ltd now owns 7,867 shares of the company’s stock valued at $284,000 after buying an additional 4,939 shares during the last quarter. Alpha Windward LLC increased its stake in Aspen Technology by 1,563.8% in the first quarter. Alpha Windward LLC now owns 12,512 shares of the company’s stock valued at $452,000 after buying an additional 11,760 shares during the last quarter. Brookfield Asset Management Inc. increased its stake in Aspen Technology by 4.8% in the first quarter. Brookfield Asset Management Inc. now owns 13,220 shares of the company’s stock valued at $478,000 after buying an additional 600 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Aspen Technology by 235.7% in the first quarter. BlackRock Inc. now owns 14,211 shares of the company’s stock valued at $513,000 after buying an additional 9,978 shares during the last quarter.
Aspen Technology Inc. (NASDAQ:AZPN) traded down 0.52% on Tuesday, hitting $42.00. The stock had a trading volume of 517,071 shares. The stock has a market cap of $3.44 billion and a P/E ratio of 25.77. The company’s 50 day moving average is $40.48 and its 200-day moving average is $36.55. Aspen Technology Inc. has a 12 month low of $29.25 and a 12 month high of $45.32.
AZPN has been the subject of several research analyst reports. KeyCorp reiterated a “buy” rating and issued a $45.00 price objective on shares of Aspen Technology in a report on Sunday, June 5th. Benchmark Co. boosted their price target on Aspen Technology from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, April 26th. Zacks Investment Research downgraded Aspen Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Finally, JPMorgan Chase & Co. assumed coverage on Aspen Technology in a research note on Friday, April 29th. They set an “underweight” rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Aspen Technology currently has an average rating of “Hold” and a consensus target price of $38.86.
In other Aspen Technology news, CEO Antonio J. Pietri sold 4,500 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $39.00, for a total transaction of $175,500.00. Following the sale, the chief executive officer now owns 163,844 shares in the company, valued at approximately $6,389,916. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jr. Robert M. Whelan sold 4,041 shares of the stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $37.63, for a total value of $152,062.83. Following the sale, the director now owns 10,572 shares in the company, valued at approximately $397,824.36. The disclosure for this sale can be found here.
Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.
