First Midwest Bank Trust Division Acquires 10,906 Shares of Aspen Technology, Inc. (AZPN)

First Midwest Bank Trust Division raised its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 111.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,650 shares of the technology company’s stock after acquiring an additional 10,906 shares during the quarter. First Midwest Bank Trust Division’s holdings in Aspen Technology were worth $1,297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Aspen Technology by 46,846.9% in the 1st quarter. BlackRock Inc. now owns 5,503,112 shares of the technology company’s stock valued at $324,242,000 after buying an additional 5,491,390 shares during the period. Koch Industries Inc. lifted its stake in Aspen Technology by 8,875.5% during the second quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock worth $1,164,000 after purchasing an additional 1,171,746 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Aspen Technology by 20.9% during the second quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock worth $130,441,000 after purchasing an additional 408,200 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in Aspen Technology by 304.8% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 416,171 shares of the technology company’s stock worth $22,997,000 after purchasing an additional 313,372 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in Aspen Technology by 22.7% during the second quarter. Pictet Asset Management Ltd. now owns 1,609,712 shares of the technology company’s stock worth $98,450,000 after purchasing an additional 297,400 shares during the last quarter.

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In other Aspen Technology news, VP F G. Hammond sold 3,388 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the transaction, the vice president now owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $66.01, for a total value of $660,100.00. Following the transaction, the director now owns 25,559 shares of the company’s stock, valued at approximately $1,687,149.59. The disclosure for this sale can be found here. Insiders sold 17,585 shares of company stock worth $1,136,673 over the last quarter. 0.80% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on the company. Canaccord Genuity reiterated a “hold” rating on shares of Aspen Technology in a research note on Friday, August 11th. BidaskClub upgraded Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Wednesday, August 16th. Bank of America Corporation started coverage on Aspen Technology in a report on Monday, November 6th. They issued a “neutral” rating and a $67.00 target price on the stock. Finally, Berenberg Bank assumed coverage on Aspen Technology in a report on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 target price on the stock. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $63.00.

Aspen Technology, Inc. (NASDAQ AZPN) traded down $0.06 during trading hours on Tuesday, reaching $66.18. The company’s stock had a trading volume of 350,400 shares, compared to its average volume of 508,853. Aspen Technology, Inc. has a 52 week low of $49.71 and a 52 week high of $68.32. The company has a market cap of $4,800.00, a P/E ratio of 30.81 and a beta of 1.22.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The business had revenue of $122.80 million during the quarter, compared to analysts’ expectations of $121.73 million. During the same quarter last year, the firm posted $0.49 earnings per share. Aspen Technology’s revenue was up 2.2% compared to the same quarter last year. equities research analysts expect that Aspen Technology, Inc. will post 1.77 EPS for the current year.

Aspen Technology Company Profile

Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.

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

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