Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 13.8% during the second quarter, Holdings Channel reports. The fund owned 1,896 shares of the technology company’s stock after selling 303 shares during the quarter. Intech Investment Management LLC’s holdings in Aspen Technology were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AZPN. LRI Investments LLC grew its position in Aspen Technology by 6.7% during the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock worth $171,000 after purchasing an additional 54 shares during the period. Tortoise Investment Management LLC grew its holdings in 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 acquiring an additional 56 shares during the period. OFI Invest Asset Management grew its holdings in 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 position 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 valued at $305,000 after acquiring an additional 60 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC lifted its holdings in Aspen Technology by 2.5% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 2,654 shares of the technology company’s stock valued at $527,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America raised their price objective 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. Robert W. Baird lifted their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Piper Sandler increased their target price on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Finally, Loop Capital lifted their price target on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.40.

Insider Buying and Selling

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction on Wednesday, August 28th. The shares were 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 of the company’s stock, valued at approximately $1,871,114. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Aspen Technology Stock Up 0.6 %

Shares of NASDAQ AZPN opened at $237.22 on Friday. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of -539.14, a price-to-earnings-growth ratio of 2.73 and a beta of 0.75. The company’s 50-day simple moving average is $214.45 and its 200-day simple moving average is $207.28. Aspen Technology, Inc. has a 52-week low of $162.26 and a 52-week high of $240.82.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The company had revenue of $342.91 million for the quarter, compared to analysts’ expectations of $319.10 million. During the same period in the previous year, the firm posted $1.87 EPS. Aspen Technology’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal 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.