Commonwealth Equity Services LLC Lowers Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Commonwealth Equity Services LLC lessened its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 12.5% during the second quarter, Holdings Channel reports. The firm owned 1,493 shares of the technology company’s stock after selling 213 shares during the period. Commonwealth Equity Services LLC’s holdings in Aspen Technology were worth $297,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Mather Group LLC. raised its position in Aspen Technology by 2,600.0% in 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 last quarter. Crewe Advisors LLC raised its holdings in shares of Aspen Technology by 313.2% in the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Aspen Technology during the second quarter valued at about $37,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Aspen Technology by 561.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock worth $48,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Insider Buying and Selling at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Aspen Technology Trading Down 0.8 %

Aspen Technology stock opened at $233.69 on Tuesday. The business’s 50 day simple moving average is $211.45 and its 200 day simple moving average is $206.50. Aspen Technology, Inc. has a 12 month low of $162.26 and a 12 month high of $240.82. The company has a market cap of $14.80 billion, a price-to-earnings ratio of -531.11, a PEG ratio of 2.63 and a beta of 0.75.

Aspen Technology (NASDAQ:AZPN) last released 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 for 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 company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 earnings per share. As a group, equities research analysts forecast that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on AZPN shares. Loop Capital lifted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Bank of America boosted their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler upped their price objective on Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Finally, Robert W. Baird lifted their target price 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.