Aspen Technology, Inc. (NASDAQ:AZPN) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. grew its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 71.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386 shares of the technology company’s stock after purchasing an additional 161 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Aspen Technology were worth $77,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Aspen Technology by 26.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after purchasing an additional 109,783 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Aspen Technology by 18.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 126,956 shares of the technology company’s stock valued at $25,217,000 after purchasing an additional 19,637 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Aspen Technology by 4.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 182,152 shares of the technology company’s stock valued at $36,181,000 after purchasing an additional 7,078 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Aspen Technology by 10.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,095 shares of the technology company’s stock valued at $218,000 after purchasing an additional 105 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new position in shares of Aspen Technology in the 2nd quarter valued at about $315,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America raised their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Piper Sandler raised their target price on Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” 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 company a “buy” rating in a report on Thursday, September 19th. Finally, Robert W. Baird raised their target price on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.40.

Aspen Technology Stock Up 0.6 %

AZPN stock opened at $237.22 on Friday. Aspen Technology, Inc. has a 52-week low of $162.26 and a 52-week high of $240.82. The stock’s 50 day moving average is $214.45 and its two-hundred day moving average is $207.28. The company has a market capitalization of $15.02 billion, a PE ratio of -539.14, a P/E/G ratio of 2.73 and a beta of 0.75.

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

Insider Transactions 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 stock was sold at an average price of $219.10, for a total value of $219,100.00. Following the completion of the transaction, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Aspen Technology 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.