Hartline Investment Corp Buys Shares of 1,229 Aspen Technology, Inc. (NASDAQ:AZPN)

Hartline Investment Corp bought a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,229 shares of the technology company’s stock, valued at approximately $262,000.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Aspen Technology by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 612,024 shares of the technology company’s stock valued at $134,737,000 after purchasing an additional 44,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Aspen Technology by 2.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,662 shares of the technology company’s stock worth $91,508,000 after acquiring an additional 8,856 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Aspen Technology by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock worth $68,931,000 after acquiring an additional 16,649 shares in the last quarter. Raymond James & Associates increased its position in shares of Aspen Technology by 8.0% during the first quarter. Raymond James & Associates now owns 257,166 shares of the technology company’s stock worth $54,848,000 after acquiring an additional 18,979 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of Aspen Technology by 6.3% during the fourth quarter. Fiera Capital Corp now owns 211,388 shares of the technology company’s stock worth $46,537,000 after acquiring an additional 12,475 shares in the last quarter. Institutional investors own 45.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Berenberg Bank raised shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $255.00 in a research report on Friday, May 17th. Piper Sandler lowered their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird reissued an “outperform” rating and set a $230.00 price objective on shares of Aspen Technology in a research report on Friday, June 14th. Finally, William Blair raised shares of Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Aspen Technology presently has a consensus rating of “Hold” and an average price target of $219.50.

Aspen Technology Stock Down 0.7 %

Aspen Technology stock traded down $1.37 during mid-day trading on Friday, reaching $198.16. The company’s stock had a trading volume of 82,325 shares, compared to its average volume of 205,881. Aspen Technology, Inc. has a 12 month low of $162.26 and a 12 month high of $224.77. The business’s 50 day simple moving average is $204.68 and its 200 day simple moving average is $202.59.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.39. The business had revenue of $278.11 million during the quarter, compared to the consensus estimate of $251.65 million. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. Research analysts anticipate that Aspen Technology, Inc. will post 5.52 earnings per share 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.