Aspen Technology, Inc. (NASDAQ:AZPN) Stock Position Lowered by Independent Franchise Partners LLP

Independent Franchise Partners LLP trimmed its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 2.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 499,163 shares of the technology company’s stock after selling 12,345 shares during the quarter. Aspen Technology accounts for 0.9% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 22nd biggest holding. Independent Franchise Partners LLP’s holdings in Aspen Technology were worth $99,149,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC lifted its position in shares of Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Mather Group LLC. boosted its stake 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 buying an additional 130 shares during the period. Crewe Advisors LLC boosted its stake in shares of Aspen Technology by 313.2% during 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 period. GAMMA Investing LLC boosted its stake in shares of Aspen Technology by 65.7% during 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 period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology during the 2nd quarter valued at $37,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were 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 in the company, valued at approximately $1,871,114. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Aspen Technology Trading Down 1.5 %

NASDAQ:AZPN opened at $235.56 on Friday. The firm has a market capitalization of $14.92 billion, a PE ratio of -535.36, a PEG ratio of 2.63 and a beta of 0.75. Aspen Technology, Inc. has a 1 year low of $162.26 and a 1 year high of $240.82. The firm’s fifty day simple moving average is $210.72 and its 200 day simple moving average is $206.26.

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