B. Metzler seel. Sohn & Co. Holding AG bought a new position in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,606 shares of the technology company's stock, valued at approximately $1,100,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Tortoise Investment Management LLC grew its holdings in shares of Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. Mather Group LLC. raised its stake in shares of Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company's stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC raised its position in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company's stock valued at $31,000 after acquiring an additional 119 shares in the last quarter. GAMMA Investing LLC lifted its stake in Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company's stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Aspen Technology in the second quarter worth approximately $37,000. Hedge funds and other institutional investors own 45.66% of the company's stock.
Wall Street Analysts Forecast Growth
AZPN has been the subject of several analyst reports. Loop Capital lifted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. StockNews.com assumed coverage on shares of Aspen Technology in a research report on Friday. They issued a "hold" rating on the stock. Berenberg Bank downgraded shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on Aspen Technology from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Finally, Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Aspen Technology presently has an average rating of "Hold" and an average price target of $253.00.
View Our Latest Stock Report on Aspen Technology
Insider Activity
In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the transaction, the director now directly owns 8,540 shares in the company, valued at $1,871,114. The trade was a 10.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company's stock.
Aspen Technology Trading Up 0.9 %
AZPN stock traded up $2.36 during trading on Friday, reaching $250.85. 502,767 shares of the stock were exchanged, compared to its average volume of 536,574. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $251.13. The company has a market capitalization of $15.87 billion, a P/E ratio of -432.50, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76. The stock has a 50 day simple moving average of $238.78 and a 200-day simple moving average of $217.60.
Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $1.39 by ($0.54). The firm had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The business's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. Equities analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current year.
About Aspen Technology
(
Free Report)
Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.
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