4,156 Shares in Aspen Technology, Inc. (NASDAQ:AZPN) Acquired by Net Worth Advisory Group

Net Worth Advisory Group acquired a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) during the third quarter, Holdings Channel.com reports. The fund acquired 4,156 shares of the technology company’s stock, valued at approximately $993,000.

A number of other hedge funds have also added to or reduced their stakes in AZPN. Tortoise Investment Management LLC boosted its holdings in shares of Aspen Technology by 77.8% in 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 in the last quarter. Mather Group LLC. raised its holdings 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 worth $29,000 after buying an additional 130 shares in the last quarter. Crewe Advisors LLC lifted its position in shares of Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after buying an additional 119 shares during the last quarter. Quent Capital LLC grew its position in Aspen Technology by 364.9% in the third quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after acquiring an additional 135 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. 45.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler raised their price target 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 raised their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. 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 report on Wednesday, September 18th. Finally, Loop Capital raised their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.40.

Aspen Technology Stock Performance

Aspen Technology stock opened at $239.08 on Friday. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of -543.36, a PEG ratio of 2.75 and a beta of 0.76. Aspen Technology, Inc. has a 52-week low of $162.26 and a 52-week high of $240.82. The firm has a 50 day moving average price of $228.16 and a two-hundred day moving average price of $210.74.

Aspen Technology (NASDAQ:AZPN) last released 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. 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 for the quarter, compared to analyst estimates of $319.10 million. During the same quarter in the previous year, the business earned $1.87 earnings per share. Aspen Technology’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal year.

Insider Activity at Aspen Technology

In other Aspen Technology 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 sale, the director now directly owns 8,540 shares in the company, valued at approximately $1,871,114. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.