Cetera Investment Advisers Purchases 81 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Cetera Investment Advisers raised its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,476 shares of the technology company’s stock after purchasing an additional 81 shares during the quarter. Cetera Investment Advisers’ holdings in Aspen Technology were worth $1,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Scientech Research LLC bought a new stake in Aspen Technology in the second quarter valued at approximately $548,000. Lighthouse Investment Partners LLC bought a new stake in Aspen Technology in the second quarter valued at approximately $993,000. MBB Public Markets I LLC bought a new stake in Aspen Technology in the second quarter valued at approximately $437,000. Toronto Dominion Bank increased its stake in shares of Aspen Technology by 9.6% during the second quarter. Toronto Dominion Bank now owns 3,038 shares of the technology company’s stock valued at $603,000 after buying an additional 265 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Aspen Technology by 59.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,482 shares of the technology company’s stock valued at $1,089,000 after buying an additional 2,049 shares during the period. Institutional investors own 45.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction 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 sale, the director now directly owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted 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. Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Loop Capital boosted their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. 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 note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.40.

Aspen Technology Stock Down 0.3 %

Shares of AZPN stock opened at $236.92 on Friday. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of -538.45, a PEG ratio of 2.75 and a beta of 0.76. The business’s fifty day moving average is $227.61 and its 200 day moving average is $210.57. Aspen Technology, Inc. has a twelve month low of $162.26 and a twelve month 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 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 analysts’ expectations of $319.10 million. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 earnings per share. Equities research analysts expect 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.