Dynamic Technology Lab Private Ltd bought a new stake in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,987 shares of the technology company's stock, valued at approximately $713,000.
A number of other large investors also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its stake in Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Mather Group LLC. grew its position in shares of Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company's stock worth $29,000 after buying an additional 130 shares in the last quarter. Crewe Advisors LLC increased its stake in shares of Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company's stock worth $31,000 after buying an additional 119 shares during the period. Quent Capital LLC raised its holdings in Aspen Technology by 364.9% in the third quarter. Quent Capital LLC now owns 172 shares of the technology company's stock valued at $41,000 after acquiring an additional 135 shares in the last quarter. Finally, 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 worth $35,000 after acquiring an additional 69 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on AZPN. Bank of America increased their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Robert W. Baird increased their target price on Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. Loop Capital lifted their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $253.00.
View Our Latest Report on Aspen Technology
Aspen Technology Price Performance
AZPN remained flat at $250.00 on Friday. 133,411 shares of the company were exchanged, compared to its average volume of 237,248. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.04. The company has a market cap of $15.81 billion, a PE ratio of -431.03, a PEG ratio of 2.85 and a beta of 0.76. The stock's 50-day simple moving average is $240.40 and its 200-day simple moving average is $219.08.
Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (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 firm's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. On average, equities analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share 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.
Further Reading
Before you consider Aspen Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Aspen Technology wasn't on the list.
While Aspen Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
