Two Creeks Capital Management Lp Lowers stake in Aspen Technology (AZPN)

Aspen Technology (AZPN) : Two Creeks Capital Management Lp reduced its stake in Aspen Technology by 1.86% during the most recent quarter end. The investment management company now holds a total of 2,063,568 shares of Aspen Technology which is valued at $93,871,708 after selling 39,033 shares in Aspen Technology , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Aspen Technology makes up approximately 5.78% of Two Creeks Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Hbk Investments L P sold out all of its stake in AZPN during the most recent quarter. The investment firm sold 9,800 shares of AZPN which is valued $445,802. Citadel Advisors sold out all of its stake in AZPN during the most recent quarter. The investment firm sold 42,700 shares of AZPN which is valued $1,942,423. Catalyst Capital Advisors added AZPN to its portfolio by purchasing 9,450 company shares during the most recent quarter which is valued at $429,881. Aspen Technology makes up approx 0.08% of Catalyst Capital Advisors’s portfolio.Cable Hill Partners reduced its stake in AZPN by selling 81 shares or 27.18% in the most recent quarter. The Hedge Fund company now holds 217 shares of AZPN which is valued at $9,121. Aspen Technology makes up approx 0.01% of Cable Hill Partners’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in AZPN by selling 1,918 shares or 0.39% in the most recent quarter. The Hedge Fund company now holds 488,310 shares of AZPN which is valued at $20,455,306. Aspen Technology makes up approx 0.16% of Public Employees Retirement Association Of Colorado’s portfolio.

Aspen Technology opened for trading at $45.58 and hit $45.62 on the upside on Thursday, eventually ending the session at $45.62, with a gain of 0.35% or 0.16 points. The heightened volatility saw the trading volume jump to 7,69,728 shares. Company has a market cap of $3,638 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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