California Public Employees Retirement System Cuts Position in Aspen Technology, Inc. (AZPN)

California Public Employees Retirement System reduced its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,880 shares of the technology company’s stock after selling 14,764 shares during the quarter. California Public Employees Retirement System’s holdings in Aspen Technology were worth $16,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AZPN. Ellis Investment Partners LLC bought a new stake in Aspen Technology during the 1st quarter worth about $33,000. Riverview Trust Co bought a new stake in Aspen Technology during the 4th quarter worth about $65,000. First Hawaiian Bank lifted its position in Aspen Technology by 478.4% during the 4th quarter. First Hawaiian Bank now owns 885 shares of the technology company’s stock worth $73,000 after buying an additional 732 shares in the last quarter. NumerixS Investment Technologies Inc lifted its position in Aspen Technology by 75.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the technology company’s stock worth $113,000 after buying an additional 600 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Aspen Technology by 11.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,244 shares of the technology company’s stock worth $184,000 after buying an additional 229 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Antonio J. Pietri sold 7,095 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $99.49, for a total value of $705,881.55. Following the transaction, the chief executive officer now owns 237,920 shares in the company, valued at approximately $23,670,660.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Simon Orebi Gann sold 9,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $121.21, for a total transaction of $1,151,495.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,692 shares of company stock worth $9,286,123. 0.90% of the stock is owned by insiders.

Several brokerages have commented on AZPN. BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 26th. Zacks Investment Research cut shares of Aspen Technology from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Benchmark reissued a “buy” rating and set a $133.00 price target (up from $113.00) on shares of Aspen Technology in a research report on Wednesday, May 8th. Canaccord Genuity boosted their price target on shares of Aspen Technology from $110.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Wedbush raised shares of Aspen Technology from a “neutral” rating to an “outperform” rating and upped their target price for the company from $104.00 to $131.00 in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $117.25.

Shares of AZPN stock opened at $116.05 on Monday. The stock has a market capitalization of $8.00 billion, a PE ratio of 56.33 and a beta of 1.61. Aspen Technology, Inc. has a 52-week low of $74.84 and a 52-week high of $124.96.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.10. The company had revenue of $148.00 million for the quarter, compared to analysts’ expectations of $136.38 million. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. Aspen Technology’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. On average, analysts predict that Aspen Technology, Inc. will post 3.26 earnings per share for the current year.

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Aspen Technology Profile

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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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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