Skandinaviska Enskilda Banken AB publ Purchases 712 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,099 shares of the technology company’s stock after buying an additional 712 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Aspen Technology were worth $1,807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Aspen Technology during the 4th quarter valued at $31,630,000. Corient Private Wealth LLC lifted its stake in Aspen Technology by 203.6% during the fourth quarter. Corient Private Wealth LLC now owns 8,094 shares of the technology company’s stock worth $1,782,000 after purchasing an additional 5,428 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Aspen Technology by 10.0% in the 4th quarter. Assetmark Inc. now owns 2,237 shares of the technology company’s stock worth $492,000 after purchasing an additional 204 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Aspen Technology by 17.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 7,553 shares of the technology company’s stock valued at $1,663,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Legacy Advisors LLC raised its holdings in shares of Aspen Technology by 16.3% during the 4th quarter. Legacy Advisors LLC now owns 2,182 shares of the technology company’s stock valued at $480,000 after buying an additional 306 shares in the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Robert W. Baird upped their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Loop Capital boosted their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Piper Sandler raised their price objective on 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Aspen Technology currently has an average rating of “Moderate Buy” and a consensus target price of $248.40.

Insider Activity

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Aspen Technology Price Performance

Shares of AZPN opened at $233.69 on Tuesday. Aspen Technology, Inc. has a one year low of $162.26 and a one year high of $240.82. The firm has a market capitalization of $14.80 billion, a PE ratio of -531.11, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. The company has a 50-day simple moving average of $211.45 and a two-hundred day simple moving average of $206.50.

Aspen Technology (NASDAQ:AZPN) 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 firm had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 EPS. Analysts expect 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.