International Assets Investment Management LLC Buys Shares of 121,798 Aspen Technology, Inc. (NASDAQ:AZPN)

International Assets Investment Management LLC purchased a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 121,798 shares of the technology company's stock, valued at approximately $290,880,000. International Assets Investment Management LLC owned approximately 0.19% of Aspen Technology at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Aspen Technology by 1.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company's stock worth $812,459,000 after acquiring an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Aspen Technology by 38.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company's stock worth $110,014,000 after purchasing an additional 153,897 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Aspen Technology by 26.5% in the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company's stock valued at $104,199,000 after purchasing an additional 109,783 shares during the period. Fiera Capital Corp increased its position in shares of Aspen Technology by 3.8% in the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company's stock valued at $67,567,000 after buying an additional 12,500 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Aspen Technology by 52.9% during the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company's stock worth $62,657,000 after buying an additional 101,586 shares during the period. 45.66% of the stock is owned by institutional investors and hedge funds.

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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company's stock.

Aspen Technology Stock Performance

Shares of NASDAQ:AZPN traded up $2.15 during midday trading on Friday, hitting $236.77. The company's stock had a trading volume of 132,190 shares, compared to its average volume of 203,260. The company has a market cap of $14.99 billion, a P/E ratio of -533.23, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. Aspen Technology, Inc. has a 12-month low of $162.26 and a 12-month high of $240.82. The business's 50 day simple moving average is $230.01 and its 200 day simple moving average is $211.31.

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

Analyst Upgrades and Downgrades

AZPN has been the topic of a number of research analyst reports. Loop Capital lifted their price target 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. Robert W. Baird lifted their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Bank of America boosted their target price 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. Finally, Piper Sandler raised their price target on shares of Aspen Technology from $200.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Aspen Technology has a consensus rating of "Moderate Buy" and a consensus target price of $248.40.

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.