Covestor Ltd Purchases 175 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Covestor Ltd boosted its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 47.7% during the 3rd quarter, Holdings Channel reports. The fund owned 542 shares of the technology company’s stock after buying an additional 175 shares during the period. Covestor Ltd’s holdings in Aspen Technology were worth $130,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Illinois Municipal Retirement Fund bought a new stake in Aspen Technology during the first quarter worth $1,487,000. DekaBank Deutsche Girozentrale lifted its position in shares of Aspen Technology by 1,034.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after buying an additional 35,056 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Aspen Technology in the 2nd quarter worth approximately $3,042,000. Capital Research Global Investors grew its holdings in shares of Aspen Technology by 52.9% in the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after acquiring an additional 101,586 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Aspen Technology by 89.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock worth $432,000 after purchasing an additional 998 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Upgrades and Downgrades

AZPN has been the topic of several recent research reports. Loop Capital upped their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Bank of America raised their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler raised their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird boosted their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $253.00.

Insiders Place Their Bets

In related 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 transaction of $219,100.00. Following the sale, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Aspen Technology Trading Up 1.5 %

Shares of NASDAQ:AZPN opened at $248.68 on Tuesday. Aspen Technology, Inc. has a 12-month low of $162.99 and a 12-month high of $249.91. The stock has a fifty day simple moving average of $234.74 and a two-hundred day simple moving average of $214.24. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of -428.76, a PEG ratio of 2.73 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). The business had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 earnings per share. As a group, equities research analysts predict that Aspen Technology, Inc. will post 6.68 EPS 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.