Eagle Boston Investment Management Inc decreased its stake in Aspen Technology Inc (AZPN) by 42.53% based on its latest 2016Q3 regulatory filing with the SEC. Eagle Boston Investment Management Inc sold 102,211 shares as the company’s stock rose 16.63% with the market. The institutional investor held 138,142 shares of the technology company at the end of 2016Q3, valued at $6.46 million, down from 240,353 at the end of the previous reported quarter. Eagle Boston Investment Management Inc who had been investing in Aspen Technology Inc for a number of months, seems to be less bullish one the $4.36 billion market cap company. The stock is down 0.34% or $0.19 after the negative news, hitting $56.2 per share. About 7,150 shares traded hands. Aspen Technology, Inc. (NASDAQ:AZPN) has risen 41.58% since June 21, 2016 and is uptrending. It has outperformed by 31.55% the S&P500.
Insitutional Activity: The institutional sentiment increased to 1.04 in Q3 2016. Its up 0.17, from 0.87 in 2016Q2. The ratio is positive, as 29 funds sold all AZPN shares owned while 80 reduced positions. 44 funds bought stakes while 69 increased positions. They now own 83.11 million shares or 3.22% less from 85.87 million shares in 2016Q2. Alliancebernstein Lp reported 1.91M shares or 0.08% of all its holdings. Northwestern Mutual Wealth Com has 0% invested in the company for 295 shares. Jnba Fin Advsrs accumulated 76 shares or 0% of the stock. Brown Brothers Harriman And Company owns 2.46 million shares or 0.61% of their US portfolio. Quantbot Tech LP accumulated 6,180 shares or 0.03% of the stock. Huntington Fincl Bank last reported 0% of its portfolio in the stock. Moreover, Cubist Systematic Strategies has 0.06% invested in Aspen Technology, Inc. (NASDAQ:AZPN) for 19,141 shares. Hl Fin Services Limited Co holds 4,401 shares or 0% of its portfolio. Swiss Bancshares last reported 0.01% of its portfolio in the stock. Robeco Institutional Asset Mngmt Bv, a Netherlands-based fund reported 20,406 shares. Bessemer Gru accumulated 0.01% or 50,400 shares. Bnp Paribas Arbitrage Sa owns 6,850 shares or 0% of their US portfolio. Lpl Fincl Ltd last reported 0% of its portfolio in the stock. Pier Cap Lc has 1.12% invested in the company for 135,257 shares. Toronto Dominion National Bank & Trust last reported 0% of its portfolio in the stock.
More news for Aspen Technology, Inc. (NASDAQ:AZPN) were recently published by: Reuters.com, which released: “BRIEF-Aspen Technology says purchase price of transaction was $37 mln” on October 27, 2016. Businesswire.com‘s article titled: “Aspen Technology Announces Date of Second-Quarter Fiscal 2017 Financial …” and published on January 13, 2017 is yet another important article.
According to Zacks Investment Research, “Aspen Technology Inc. is a recognized expert and leading provider of award-winning process optimization software and services. AspenTech’s integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings.”
Aspen Technology, Inc. (NASDAQ:AZPN) Ratings Coverage
Out of 4 analysts covering Aspen Technology (NASDAQ:AZPN), 0 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 0 are positive. Aspen Technology has been the topic of 10 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Canaccord Genuity given on Friday, January 29. Avondale downgraded the stock to “Underperform” rating in Friday, August 12 report. The company was downgraded on Saturday, August 15 by TheStreet. The stock of Aspen Technology, Inc. (NASDAQ:AZPN) has “Underweight” rating given on Friday, April 29 by JP Morgan. The firm has “Hold” rating given on Wednesday, January 13 by Benchmark. Avondale initiated Aspen Technology, Inc. (NASDAQ:AZPN) on Tuesday, February 9 with “Market Perform” rating. The firm has “Hold” rating given on Tuesday, April 26 by Benchmark.
AZPN Company Profile
Aspen Technology, Inc., incorporated on March 11, 1998, is a global well-known 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. The Firm operates through two divisions, which include subscription and software, and services. The subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services. The services segment includes professional services and training. The Firm has developed its applications to design and optimize processes across approximately three principal business areas, including engineering, manufacturing and supply chain.