Dimensional Fund Advisors LP Raises Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Dimensional Fund Advisors LP grew its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 26.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 524,604 shares of the technology company’s stock after buying an additional 109,783 shares during the period. Dimensional Fund Advisors LP owned 0.83% of Aspen Technology worth $104,199,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. LRI Investments LLC grew its position in Aspen Technology by 6.7% in the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock valued at $171,000 after buying an additional 54 shares during the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. OFI Invest Asset Management increased its stake in shares of Aspen Technology by 7.4% during the second quarter. OFI Invest Asset Management now owns 872 shares of the technology company’s stock worth $162,000 after acquiring an additional 60 shares during the period. Assenagon Asset Management S.A. raised its holdings in Aspen Technology by 4.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company’s stock worth $305,000 after purchasing an additional 60 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its holdings in Aspen Technology by 2.5% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 2,654 shares of the technology company’s stock worth $527,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

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 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 sale, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AZPN. Loop Capital boosted their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Piper Sandler upped their price objective on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Robert W. Baird raised their target price on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America upped their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $248.40.

Aspen Technology Stock Performance

AZPN opened at $233.55 on Wednesday. The company has a market cap of $14.79 billion, a price-to-earnings ratio of -530.80, a PEG ratio of 2.63 and a beta of 0.75. Aspen Technology, Inc. has a one year low of $162.26 and a one year high of $240.82. The business’s fifty day moving average is $212.08 and its two-hundred day moving average is $206.69.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.87 EPS. On average, analysts predict that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal year.

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.