Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 14.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 171,412 shares of the technology company's stock after selling 27,798 shares during the period. TimesSquare Capital Management LLC owned about 0.27% of Aspen Technology worth $40,937,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE increased its stake in Aspen Technology by 0.4% during the 3rd 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 in the last quarter. LRI Investments LLC raised its stake in Aspen Technology by 6.7% in the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company's stock valued at $171,000 after purchasing an additional 54 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Aspen Technology by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company's stock valued at $736,000 after purchasing an additional 55 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in shares of Aspen Technology by 77.8% during the second 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. Finally, OFI Invest Asset Management grew its holdings in shares of Aspen Technology by 7.4% during the second 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. 45.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AZPN shares. Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Loop Capital raised 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. Berenberg Bank lowered Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday. Robert W. Baird raised their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Finally, 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 note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Aspen Technology currently has an average rating of "Hold" and an average target price of $253.00.

Insider Buying and Selling at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the sale, the director now directly owns 8,540 shares in the company, valued at $1,871,114. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Aspen Technology Price Performance

Shares of AZPN stock traded down $0.97 during trading hours on Friday, hitting $245.00. The company had a trading volume of 883,949 shares, compared to its average volume of 302,040. The stock has a market capitalization of $15.50 billion, a PE ratio of -422.41, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. The company's fifty day moving average is $234.74 and its 200 day moving average is $214.24. Aspen Technology, Inc. has a fifty-two week low of $162.26 and a fifty-two week high of $249.00.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm had revenue of $215.90 million for the quarter, compared to analysts' expectations of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The company's quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. Equities analysts forecast that Aspen Technology, Inc. will post 6.53 earnings per share for the current year.

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.