Envestnet Asset Management Inc. Purchases 7,078 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Envestnet Asset Management Inc. boosted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 182,152 shares of the technology company’s stock after purchasing an additional 7,078 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Aspen Technology were worth $36,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Tortoise Investment Management LLC raised its stake 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 worth $25,000 after buying 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 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 shares of Aspen Technology by 313.2% in 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 during the period. GAMMA Investing LLC boosted its position in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Aspen Technology during the second quarter worth $37,000. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $235.56 on Friday. The business’s 50-day simple moving average is $210.72 and its 200-day simple moving average is $206.16. Aspen Technology, Inc. has a fifty-two week low of $162.26 and a fifty-two week high of $240.82. The stock has a market capitalization of $14.92 billion, a PE ratio of -535.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AZPN. Robert W. Baird increased their target price on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Piper Sandler increased 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. Bank of America boosted their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Aspen Technology presently has an average rating of “Moderate Buy” and a consensus target price of $248.40.

Insider Activity 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 transaction 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 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 insiders.

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.