Rgm Capital Lowers stake in Aspen Technology (AZPN)

Aspen Technology (AZPN) : Rgm Capital reduced its stake in Aspen Technology by 1.66% during the most recent quarter end. The investment management company now holds a total of 1,594,978 shares of Aspen Technology which is valued at $59.4 Million after selling 26,894 shares in Aspen Technology , the firm said in a disclosure report filed with the SEC on May 13, 2016.Aspen Technology makes up approximately 7.49% of Rgm Capital’s portfolio.

Other Hedge Funds, Including , Pictet Asset Management Ltd boosted its stake in AZPN in the latest quarter, The investment management firm added 194,709 additional shares and now holds a total of 347,007 shares of Aspen Technology which is valued at $12.9 Million. Aspen Technology makes up approx 0.05% of Pictet Asset Management Ltd’s portfolio.Martingale Asset Management L P reduced its stake in AZPN by selling 12 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 27,932 shares of AZPN which is valued at $1 Million. Aspen Technology makes up approx 0.02% of Martingale Asset Management L P’s portfolio. Archford Capital Strategies sold out all of its stake in AZPN during the most recent quarter. The investment firm sold 88 shares of AZPN which is valued $3,278.Mckinley Capital Management Delaware reduced its stake in AZPN by selling 57 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 76,399 shares of AZPN which is valued at $2.8 Million. Aspen Technology makes up approx 0.14% of Mckinley Capital Management Delaware’s portfolio.Numeric Investors reduced its stake in AZPN by selling 1,073,448 shares or 63.98% in the most recent quarter. The Hedge Fund company now holds 604,463 shares of AZPN which is valued at $22.6 Million. Aspen Technology makes up approx 0.24% of Numeric Investors’s portfolio.

Aspen Technology closed down -0.13 points or -0.34% at $37.99 with 9,50,226 shares getting traded on Wednesday. Post opening the session at $38.31, the shares hit an intraday low of $37.95 and an intraday high of $38.425 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Aspen Technology reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.40. The company had revenue of $119.21 million for the quarter, compared to analysts expectations of $116.74 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Aspen Technology. JP Morgan Resumed Aspen Technology on Apr 29, 2016 to “Underweight”, Price Target of the shares are set at $36.

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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