Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 38.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 511 shares of the technology company’s stock after selling 322 shares during the period. Farther Finance Advisors LLC’s holdings in Aspen Technology were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund acquired a new position in Aspen Technology during the 1st quarter worth about $1,487,000. DekaBank Deutsche Girozentrale lifted its stake in 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 acquiring an additional 35,056 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in Aspen Technology during the 2nd quarter worth about $3,042,000. Capital Research Global Investors lifted its stake in Aspen Technology by 52.9% during the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after acquiring an additional 101,586 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in 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 acquiring an additional 998 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on AZPN shares. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. 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 report on Wednesday, August 7th. Bank of America upped their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Loop Capital upped their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Piper Sandler upped 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $253.00.

Aspen Technology Stock Performance

AZPN opened at $248.68 on Tuesday. Aspen Technology, Inc. has a one year low of $162.99 and a one year high of $249.91. The company has a market cap of $15.73 billion, a P/E ratio of -428.76, a PEG ratio of 2.73 and a beta of 0.76. The business’s 50-day simple moving average is $234.74 and its 200-day simple moving average is $214.24.

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 analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The business had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. The company’s revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, analysts predict that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s 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 transaction, the director now owns 8,540 shares in the company, valued at $1,871,114. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.