CoreCap Advisors LLC Buys New Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

CoreCap Advisors LLC purchased a new position in Aspen Technology, Inc. (NASDAQ:AZPN) during the second quarter, HoldingsChannel reports. The fund purchased 1,584 shares of the technology company’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AZPN. Tortoise Investment Management LLC raised its position in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Mather Group LLC. increased its holdings 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 acquiring an additional 130 shares during the last quarter. Crewe Advisors LLC lifted its stake in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology during the second quarter valued at about $37,000. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Stock Up 0.0 %

Aspen Technology stock opened at $225.21 on Friday. Aspen Technology, Inc. has a 52-week low of $162.26 and a 52-week high of $235.10. The company has a market cap of $14.25 billion, a price-to-earnings ratio of -511.83, a PEG ratio of 2.63 and a beta of 0.75. The firm’s fifty day moving average is $206.51 and its 200 day moving average is $204.87.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.49. The firm had revenue of $342.91 million for 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 was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 EPS. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Aspen Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.50.

Insider Activity

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction that occurred on 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 transaction, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.