Public Employees Retirement Association of Colorado Sells 131 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Public Employees Retirement Association of Colorado decreased its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,906 shares of the technology company’s stock after selling 131 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Aspen Technology were worth $14,680,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AZPN. Tortoise Investment Management LLC raised its stake 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 valued at $25,000 after acquiring an additional 56 shares in the last quarter. Mather Group LLC. raised its position in Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC lifted its holdings in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after buying an additional 119 shares during the period. GAMMA Investing LLC grew its position in shares of Aspen Technology by 65.7% during the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Aspen Technology during the 2nd quarter worth $37,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AZPN shares. Robert W. Baird upped 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. Piper Sandler upped their price target on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America lifted their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Loop Capital boosted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $248.40.

Insider Activity at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 8,540 shares of the company’s stock, valued at $1,871,114. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Aspen Technology Stock Down 1.5 %

Shares of Aspen Technology stock opened at $235.56 on Friday. The company has a market cap of $14.92 billion, a P/E ratio of -535.36, a PEG ratio of 2.63 and a beta of 0.75. The firm’s 50 day moving average price is $210.72 and its 200-day moving average price is $206.16. Aspen Technology, Inc. has a 52-week low of $162.26 and a 52-week high of $240.82.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The business had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. During the same period in the prior year, the firm posted $1.87 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal 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.