Kayne Anderson Rudnick Investment Management LLC Purchases 65,143 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,090,314 shares of the technology company’s stock after purchasing an additional 65,143 shares during the period. Aspen Technology makes up about 2.0% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its 4th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.06% of Aspen Technology worth $812,459,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC grew its position in shares of Aspen Technology by 6.7% during the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock worth $171,000 after purchasing an additional 54 shares in the last quarter. Tortoise Investment Management LLC increased its stake in Aspen Technology by 77.8% during 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 during the period. OFI Invest Asset Management raised its holdings in Aspen Technology by 7.4% in the 2nd quarter. OFI Invest Asset Management now owns 872 shares of the technology company’s stock valued at $162,000 after acquiring an additional 60 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Aspen Technology by 4.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company’s stock valued at $305,000 after acquiring an additional 60 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Aspen Technology by 2.5% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 2,654 shares of the technology company’s stock worth $527,000 after purchasing an additional 65 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Insider Activity at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was 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 owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Aspen Technology Trading Down 1.5 %

AZPN stock opened at $235.56 on Friday. The firm has a 50-day moving average price of $210.72 and a 200-day moving average price of $206.16. Aspen Technology, Inc. has a 12 month low of $162.26 and a 12 month high of $240.82. The stock has a market capitalization of $14.92 billion, a P/E ratio of -535.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $1.88 by $0.49. The business had revenue of $342.91 million during the quarter, compared to the consensus estimate of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.87 EPS. As a group, equities analysts predict that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America boosted their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird boosted their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Piper Sandler increased their price target on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Loop Capital lifted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.40.

Aspen Technology Company 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.