Park Avenue Securities LLC Has $390,000 Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Park Avenue Securities LLC reduced its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,631 shares of the technology company’s stock after selling 125 shares during the period. Park Avenue Securities LLC’s holdings in Aspen Technology were worth $390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AZPN. Wellington Management Group LLP increased its holdings in shares of Aspen Technology by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 612,024 shares of the technology company’s stock valued at $134,737,000 after purchasing an additional 44,824 shares during the last quarter. Alaska Permanent Fund Corp boosted its position in shares of Aspen Technology by 5.9% in the first quarter. Alaska Permanent Fund Corp now owns 14,232 shares of the technology company’s stock valued at $3,035,000 after acquiring an additional 798 shares during the period. MJP Associates Inc. ADV boosted its position in shares of Aspen Technology by 20.9% in the first quarter. MJP Associates Inc. ADV now owns 1,349 shares of the technology company’s stock valued at $288,000 after acquiring an additional 233 shares during the period. Steph & Co. boosted its position in shares of Aspen Technology by 87.9% in the first quarter. Steph & Co. now owns 791 shares of the technology company’s stock valued at $169,000 after acquiring an additional 370 shares during the period. Finally, Wallace Advisory Group LLC boosted its position in shares of Aspen Technology by 14.4% in the first quarter. Wallace Advisory Group LLC now owns 1,250 shares of the technology company’s stock valued at $275,000 after acquiring an additional 157 shares during the period. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $235.86 on Friday. Aspen Technology, Inc. has a 1 year low of $162.26 and a 1 year high of $240.82. The company has a 50 day simple moving average of $223.97 and a 200 day simple moving average of $209.85. The firm has a market cap of $14.94 billion, a PE ratio of -536.05, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results 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. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The firm had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. During the same quarter last year, the business earned $1.87 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AZPN shares. 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 note on Thursday, September 19th. Robert W. Baird increased 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. Finally, Piper Sandler increased their price objective on shares of Aspen Technology from $200.00 to $217.00 and gave the stock 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $248.40.

Insider Buying and Selling

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

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.