Segall Bryant & Hamill LLC Takes $6.08 Million Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Segall Bryant & Hamill LLC bought a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 25,459 shares of the technology company's stock, valued at approximately $6,080,000.

Several other large investors have also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its stake in shares of Aspen Technology by 1,034.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company's stock worth $7,895,000 after purchasing an additional 35,056 shares during the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Aspen Technology in the 2nd quarter worth approximately $3,042,000. Capital Research Global Investors grew its stake in shares of Aspen Technology by 52.9% in the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company's stock worth $62,657,000 after purchasing an additional 101,586 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Aspen Technology by 89.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company's stock worth $432,000 after purchasing an additional 998 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Aspen Technology by 5.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company's stock worth $139,156,000 after purchasing an additional 28,820 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company's stock.

Insider Buying and Selling at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction that occurred on 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 owns 8,540 shares of the company's stock, valued at $1,871,114. This trade represents a 10.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. StockNews.com initiated coverage on shares of Aspen Technology in a research report on Friday. They issued a "hold" rating on the stock. Berenberg Bank downgraded shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Piper Sandler lifted their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Finally, Bank of America lifted their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $253.00.

Aspen Technology Trading Up 0.9 %

NASDAQ AZPN traded up $2.36 during trading on Friday, reaching $250.85. The company's stock had a trading volume of 502,767 shares, compared to its average volume of 234,255. The stock has a market capitalization of $15.87 billion, a PE ratio of -427.74, a PEG ratio of 2.82 and a beta of 0.76. The business has a 50-day moving average price of $238.27 and a 200-day moving average price of $217.03. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $251.13.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last posted 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 business 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%. Aspen Technology's revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. As a group, analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

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.