Marshall Wace LLP Makes New Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

Marshall Wace LLP acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,093 shares of the technology company’s stock, valued at approximately $3,991,000.

Other hedge funds have also bought and sold shares of the company. Tortoise Investment Management LLC raised its position in shares of Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after acquiring an additional 56 shares in the last quarter. Mather Group LLC. grew its stake in Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Crewe Advisors LLC increased its holdings in Aspen Technology by 313.2% in the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC lifted its stake in Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Aspen Technology during the 2nd quarter worth approximately $37,000. Institutional investors own 45.66% of the company’s stock.

Insider Activity at Aspen Technology

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

Wall Street Analyst Weigh In

AZPN has been the topic of a number of research reports. Bank of America boosted their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Loop Capital increased their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. 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 research note on Wednesday, August 7th. Finally, Piper Sandler boosted their target price on Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.40.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $234.55 on Thursday. Aspen Technology, Inc. has a 1 year low of $162.26 and a 1 year high of $240.82. The stock has a market capitalization of $14.85 billion, a P/E ratio of -533.07, a P/E/G ratio of 2.73 and a beta of 0.75. The company has a 50-day moving average price of $216.30 and a 200-day moving average price of $207.92.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 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 firm had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. During the same period in the previous year, the company posted $1.87 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal 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.