Strategic Global Advisors Lowers stake in Aspen Technology (AZPN)

Aspen Technology (AZPN) : Strategic Global Advisors reduced its stake in Aspen Technology by 18.52% during the most recent quarter end. The investment management company now holds a total of 74,969 shares of Aspen Technology which is valued at $3,410,340 after selling 17,045 shares in Aspen Technology , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Aspen Technology makes up approximately 1.23% of Strategic Global Advisors’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association sold out all of its stake in AZPN during the most recent quarter. The investment firm sold 117,300 shares of AZPN which is valued $5,335,977.Blackrock Group Ltd boosted its stake in AZPN in the latest quarter, The investment management firm added 17,988 additional shares and now holds a total of 111,743 shares of Aspen Technology which is valued at $5,083,189. Sg Americas Securities sold out all of its stake in AZPN during the most recent quarter. The investment firm sold 6,239 shares of AZPN which is valued $257,920. Bbva Compass Bancshares Inc added AZPN to its portfolio by purchasing 6,700 company shares during the most recent quarter which is valued at $280,663. Aspen Technology makes up approx 0.02% of Bbva Compass Bancshares Inc’s portfolio. Acadian Asset Management sold out all of its stake in AZPN during the most recent quarter. The investment firm sold 300 shares of AZPN which is valued $12,702.

Aspen Technology opened for trading at $45.61 and hit $45.74 on the upside on Tuesday, eventually ending the session at $45.4, with a gain of 0.04% or 0.02 points. The heightened volatility saw the trading volume jump to 4,63,839 shares. Company has a market cap of $3,620 M.

On the company’s financial health, Aspen Technology reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.39. The company had revenue of $113.68 million for the quarter, compared to analysts expectations of $112.95 million. The company’s revenue was down -.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Aspen Technology. Aspen Technology was Downgraded by Avondale to ” Mkt Underperform” on Aug 12, 2016.

Aspen Technology Inc. is a global provider of process optimization software solutions which are 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 Company has developed its applications to design and optimize processes across three principal business areas: engineering manufacturing and supply chain. The Company has three operating segments: license; software maintenance and support (SMS) training and other and professional services. The Company provides integrated process optimization software solutions designed and developed specifically for the process industries.

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