Aspen Technology, Inc. (NASDAQ:AZPN) Shares Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC boosted its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,764 shares of the technology company’s stock after purchasing an additional 67 shares during the period. Portside Wealth Group LLC’s holdings in Aspen Technology were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in AZPN. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Aspen Technology by 1.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after acquiring an additional 65,143 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Aspen Technology by 38.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after purchasing an additional 153,897 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Aspen Technology by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after buying an additional 109,783 shares during the last quarter. Fiera Capital Corp boosted its position in shares of Aspen Technology by 3.8% during the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after buying an additional 12,500 shares during the period. Finally, Capital Research Global Investors grew its holdings in Aspen Technology by 52.9% in the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after buying an additional 101,586 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Insider Activity

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Aspen Technology Stock Performance

Shares of AZPN opened at $245.00 on Friday. Aspen Technology, Inc. has a 52 week low of $162.26 and a 52 week high of $249.00. The company has a market capitalization of $15.50 billion, a PE ratio of -422.41, a PEG ratio of 2.77 and a beta of 0.76. The company’s 50 day moving average price is $234.74 and its 200 day moving average price is $214.01.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The company’s revenue was down 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. On average, equities analysts forecast that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AZPN has been the topic of several recent analyst reports. Bank of America lifted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Loop Capital upped their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Piper Sandler raised their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Robert W. Baird upped their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

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.