Otter Creek Advisors LLC Has $5.38 Million Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Otter Creek Advisors LLC boosted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 44.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,505 shares of the technology company's stock after buying an additional 6,900 shares during the quarter. Aspen Technology makes up approximately 3.5% of Otter Creek Advisors LLC's holdings, making the stock its 10th largest holding. Otter Creek Advisors LLC's holdings in Aspen Technology were worth $5,375,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AZPN. Tortoise Investment Management LLC raised its stake in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock worth $25,000 after buying an additional 56 shares during the last quarter. Mather Group LLC. grew its holdings in 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 acquiring an additional 130 shares during the period. Crewe Advisors LLC raised its position in shares of Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company's stock valued at $31,000 after acquiring an additional 119 shares during the last quarter. Quent Capital LLC lifted its stake in shares of Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company's stock valued at $41,000 after purchasing an additional 135 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company's stock worth $35,000 after purchasing an additional 69 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Price Performance

AZPN traded up $0.92 during trading on Friday, reaching $249.41. The company had a trading volume of 209,680 shares, compared to its average volume of 232,964. The company has a market cap of $15.78 billion, a P/E ratio of -427.74, a PEG ratio of 2.82 and a beta of 0.76. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $250.00. The business's fifty day moving average price is $238.27 and its 200 day moving average price is $217.03.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The company's revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. As a group, sell-side analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Insider Activity

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now owns 8,540 shares of the company's stock, valued at $1,871,114. The trade was a 10.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com began coverage on Aspen Technology in a report on Friday. They issued a "hold" rating for the company. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America lifted their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Piper Sandler upped their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Aspen Technology presently has an average rating of "Hold" and an average price target of $253.00.

Aspen Technology Profile

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.