Aspen Technology, Inc. (NASDAQ:AZPN) Holdings Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,084 shares of the technology company’s stock after buying an additional 55 shares during the quarter. State of Alaska Department of Revenue’s holdings in Aspen Technology were worth $736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC raised its holdings in shares of Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC grew its stake in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after buying an additional 119 shares during the last quarter. Quent Capital LLC grew its stake in Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after buying an additional 135 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Aspen Technology by 65.7% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Insiders Place Their Bets

In other Aspen Technology 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

AZPN has been the topic of a number of research analyst reports. Piper Sandler raised their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America raised their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Robert W. Baird raised their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Loop Capital lifted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $253.00.

Aspen Technology Stock Up 1.4 %

Shares of AZPN stock opened at $244.33 on Thursday. Aspen Technology, Inc. has a 12-month low of $162.26 and a 12-month high of $248.00. The company has a market capitalization of $15.45 billion, a P/E ratio of -1,526.97, a P/E/G ratio of 2.73 and a beta of 0.76. The firm has a 50-day moving average price of $234.19 and a 200 day moving average price of $213.46.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The firm had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. During the same period in the prior year, the business earned $0.96 earnings per share. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. As a group, research analysts expect that Aspen Technology, Inc. will post 6.53 earnings per share for the current year.

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.