Aspen Technology, Inc. (NASDAQ:AZPN) Director Jr. Robert M. Whelan Sells 1,000 Shares

Aspen Technology, Inc. (NASDAQ:AZPN) Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were 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 owns 8,540 shares of the company’s stock, valued at $1,871,114. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $234.14 on Friday. The stock has a market capitalization of $14.83 billion, a PE ratio of -532.14, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73. The business’s 50-day simple moving average is $200.61 and its 200-day simple moving average is $201.58. Aspen Technology, Inc. has a fifty-two week low of $162.26 and a fifty-two week high of $235.10.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. The business had revenue of $342.91 million during the quarter, compared to the consensus estimate of $319.10 million. During the same quarter last year, the firm earned $1.87 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts expect that Aspen Technology, Inc. will post 5.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. William Blair raised Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Berenberg Bank upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $185.00 to $255.00 in a report on Friday, May 17th. Robert W. Baird increased their price target on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler cut their target price on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $224.50.

Hedge Funds Weigh In On Aspen Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC raised its holdings in 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 acquiring an additional 56 shares in the last quarter. Mather Group LLC. lifted its position in Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Crewe Advisors LLC increased its holdings in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after buying an additional 119 shares during the period. GAMMA Investing LLC raised its position in shares of 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 buying an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Aspen Technology during the 2nd quarter worth approximately $37,000. 45.66% of the stock is owned by institutional investors.

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.