Otter Creek Advisors LLC trimmed its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 91.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,012 shares of the technology company's stock after selling 20,493 shares during the period. Otter Creek Advisors LLC's holdings in Aspen Technology were worth $502,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commerce Bank raised its stake in shares of Aspen Technology by 3.1% in the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company's stock valued at $370,000 after acquiring an additional 47 shares during the period. Heritage Family Offices LLP boosted its position in shares of Aspen Technology by 2.8% in the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company's stock worth $431,000 after buying an additional 47 shares during the period. US Bancorp DE boosted its position in shares of Aspen Technology by 0.4% in the third quarter. US Bancorp DE now owns 13,695 shares of the technology company's stock worth $3,271,000 after buying an additional 50 shares during the period. State of Alaska Department of Revenue lifted its position in Aspen Technology by 1.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company's stock worth $736,000 after acquiring an additional 55 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company's stock worth $63,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on AZPN. Piper Sandler lifted their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Robert W. Baird reaffirmed a "neutral" rating and set a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. StockNews.com started coverage on shares of Aspen Technology in a report on Wednesday. They issued a "hold" rating on the stock. Baird R W cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 27th. Finally, Berenberg Bank lowered Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $272.00.
Check Out Our Latest Stock Analysis on Aspen Technology
Aspen Technology Price Performance
NASDAQ:AZPN traded up $1.16 during mid-day trading on Friday, reaching $265.25. The stock had a trading volume of 573,632 shares, compared to its average volume of 638,083. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 3,316.04, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $277.37. The stock's 50 day simple moving average is $258.18 and its two-hundred day simple moving average is $244.42.
Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. Sell-side analysts anticipate that Aspen Technology, Inc. will post 6.7 EPS for the current fiscal 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.
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