Whittier Trust Co. Sells 72 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Whittier Trust Co. cut its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,119 shares of the technology company’s stock after selling 72 shares during the quarter. Whittier Trust Co.’s holdings in Aspen Technology were worth $267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AZPN. Tortoise Investment Management LLC grew its position 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. grew its holdings 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 increased its position in shares of Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after acquiring an additional 119 shares in the last quarter. Quent Capital LLC raised its holdings in Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after acquiring an additional 135 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AZPN. Bank of America boosted their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler upped their target price on shares of Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Robert W. Baird lifted 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. Finally, Loop Capital increased their price objective 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Aspen Technology has a consensus rating of “Moderate Buy” and a consensus target price of $248.40.

Insider Buying and Selling

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s 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 sale, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Aspen Technology Stock Down 2.2 %

NASDAQ AZPN opened at $231.97 on Thursday. The company has a 50-day moving average price of $229.58 and a 200-day moving average price of $211.15. Aspen Technology, Inc. has a 52 week low of $162.26 and a 52 week high of $240.82. The firm has a market capitalization of $14.69 billion, a P/E ratio of -527.20, a PEG ratio of 2.75 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The business had revenue of $342.91 million during the quarter, compared to analysts’ expectations of $319.10 million. During the same period in the prior year, the company earned $1.87 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Aspen Technology, Inc. will post 6.53 EPS for the current year.

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.