Arlington Partners LLC Raises Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Arlington Partners LLC raised its stake in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 20.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,322 shares of the technology company's stock after purchasing an additional 3,274 shares during the quarter. Aspen Technology makes up about 1.8% of Arlington Partners LLC's portfolio, making the stock its 8th biggest holding. Arlington Partners LLC's holdings in Aspen Technology were worth $4,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of AZPN. Steph & Co. grew its stake in Aspen Technology by 87.9% in the first quarter. Steph & Co. now owns 791 shares of the technology company's stock valued at $169,000 after purchasing an additional 370 shares in the last quarter. Wallace Advisory Group LLC boosted its stake in shares of Aspen Technology by 14.4% during the 1st quarter. Wallace Advisory Group LLC now owns 1,250 shares of the technology company's stock worth $275,000 after acquiring an additional 157 shares during the period. Thrive Wealth Management LLC boosted its stake in shares of Aspen Technology by 12.2% during the 1st quarter. Thrive Wealth Management LLC now owns 1,148 shares of the technology company's stock worth $245,000 after acquiring an additional 125 shares during the period. State of Michigan Retirement System boosted its stake in shares of Aspen Technology by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 8,807 shares of the technology company's stock worth $1,878,000 after acquiring an additional 200 shares during the period. Finally, Norden Group LLC boosted its stake in shares of Aspen Technology by 2,673.7% during the 1st quarter. Norden Group LLC now owns 43,020 shares of the technology company's stock worth $9,175,000 after acquiring an additional 41,469 shares during the period. 45.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology 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 completion of the transaction, the director now directly owns 8,540 shares of the company's stock, valued at $1,871,114. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.

Aspen Technology Stock Performance

NASDAQ:AZPN traded down $1.59 during mid-day trading on Monday, hitting $237.49. 80,621 shares of the stock were exchanged, compared to its average volume of 204,793. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of -532.86, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The firm's 50-day simple moving average is $228.16 and its 200 day simple moving average is $210.69. Aspen Technology, Inc. has a fifty-two week low of $162.26 and a fifty-two week high of $240.82.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on AZPN. Bank of America lifted their target price on 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 lifted their target price on Aspen Technology from $200.00 to $217.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 18th. Loop Capital lifted their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Finally, Robert W. Baird lifted their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $248.40.

Aspen Technology Company 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.