IFM Investors Pty Ltd Purchases 377 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

IFM Investors Pty Ltd boosted its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,165 shares of the technology company’s stock after acquiring an additional 377 shares during the period. IFM Investors Pty Ltd’s holdings in Aspen Technology were worth $1,472,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Tortoise Investment Management LLC boosted its stake 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. 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 purchasing an additional 130 shares in the last quarter. 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 purchasing an additional 119 shares in the last quarter. 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 purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Aspen Technology during the 2nd quarter valued at about $37,000. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $236.77 on Monday. Aspen Technology, Inc. has a 1 year low of $162.26 and a 1 year high of $240.82. The stock has a market cap of $14.99 billion, a P/E ratio of -538.11, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The firm has a 50-day moving average of $230.53 and a 200 day moving average of $211.48.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Robert W. Baird lifted their price target 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. Loop Capital lifted their price target 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. Finally, Piper Sandler lifted their price target on shares of Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.40.

Insiders Place Their Bets

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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

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.