Mutual of America Capital Management LLC Has $3.43 Million Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Mutual of America Capital Management LLC cut its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 10.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,360 shares of the technology company’s stock after selling 1,595 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Aspen Technology were worth $3,429,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tortoise Investment Management LLC raised its stake in 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 during the last quarter. Mather Group LLC. raised its position in shares of Aspen Technology by 2,600.0% during the second 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 lifted its stake 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 buying an additional 119 shares during the period. GAMMA Investing LLC grew its position in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Aspen Technology during the second quarter valued at about $37,000. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Trading Up 0.9 %

NASDAQ AZPN opened at $250.85 on Friday. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $251.13. The stock has a 50-day simple moving average of $238.27 and a 200 day simple moving average of $217.03. The company has a market capitalization of $15.87 billion, a PE ratio of -427.74, a P/E/G ratio of 2.82 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results 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 company had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. During the same period last year, the company earned $0.96 earnings per share. The business’s revenue was down 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Insider Transactions at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was 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 in the company, valued at $1,871,114. This represents a 10.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on AZPN shares. Bank of America raised 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. StockNews.com initiated coverage on Aspen Technology in a research report on Friday. They issued a “hold” rating for the company. Piper Sandler boosted their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Loop Capital lifted their target price 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $253.00.

About Aspen Technology

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.