4,156 Shares in Aspen Technology, Inc. (NASDAQ:AZPN) Bought by Net Worth Advisory Group

Net Worth Advisory Group purchased a new position in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,156 shares of the technology company's stock, valued at approximately $993,000.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC increased its stake in Aspen Technology by 6.7% during the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company's stock worth $171,000 after buying an additional 54 shares in the last quarter. Tortoise Investment Management LLC increased 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 buying an additional 56 shares in the last quarter. OFI Invest Asset Management increased its stake in Aspen Technology by 7.4% during the 2nd quarter. OFI Invest Asset Management now owns 872 shares of the technology company's stock worth $162,000 after buying an additional 60 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Aspen Technology by 4.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company's stock worth $305,000 after buying an additional 60 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in Aspen Technology by 2.5% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 2,654 shares of the technology company's stock worth $527,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company's stock.

Analyst Upgrades and Downgrades

AZPN has been the subject of several research reports. Bank of America boosted their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Loop Capital upped their price target on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Piper Sandler upped their price target on Aspen Technology from $200.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird upped their price target on Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $248.40.

Aspen Technology Stock Up 0.9 %

NASDAQ:AZPN traded up $2.16 during trading hours on Friday, reaching $239.08. 94,070 shares of the stock were exchanged, compared to its average volume of 205,408. The business has a 50-day moving average of $228.16 and a two-hundred day moving average of $210.74. Aspen Technology, Inc. has a twelve month low of $162.26 and a twelve month high of $240.82. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of -543.36, a PEG ratio of 2.75 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The company had revenue of $342.91 million for the quarter, compared to analysts' expectations of $319.10 million. During the same period in the prior year, the firm earned $1.87 earnings per share. The firm's revenue was up 6.9% compared to the same quarter last year. On average, research analysts forecast that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now directly owns 8,540 shares in the company, valued at approximately $1,871,114. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

About Aspen Technology

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.