1,516 Shares in Aspen Technology, Inc. (NASDAQ:AZPN) Acquired by Aigen Investment Management LP

Aigen Investment Management LP bought a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,516 shares of the technology company’s stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZPN. Sumitomo Mitsui Trust Group Inc. increased its stake in Aspen Technology by 5.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after buying an additional 28,820 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Aspen Technology by 62.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,350 shares of the technology company’s stock valued at $322,000 after acquiring an additional 518 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Aspen Technology by 16.1% during the third quarter. Crossmark Global Holdings Inc. now owns 2,187 shares of the technology company’s stock worth $522,000 after purchasing an additional 303 shares during the period. Covestor Ltd increased its position in Aspen Technology by 47.7% during the 3rd quarter. Covestor Ltd now owns 542 shares of the technology company’s stock worth $130,000 after buying an additional 175 shares during the period. Finally, ABLE Financial Group LLC raised its stake in Aspen Technology by 5.9% in the 3rd quarter. ABLE Financial Group LLC now owns 6,422 shares of the technology company’s stock worth $1,534,000 after purchasing an additional 359 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of analyst reports. Bank of America boosted their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Loop Capital raised their target price 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. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird upped their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com initiated coverage on Aspen Technology in a research note on Thursday. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Stock Up 0.4 %

Shares of Aspen Technology stock opened at $247.04 on Friday. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $249.91. The business has a 50 day moving average price of $235.80 and a 200-day moving average price of $215.15. The company has a market cap of $15.63 billion, a PE ratio of -425.93, a price-to-earnings-growth ratio of 2.81 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, research analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Insider Buying and Selling at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now owns 8,540 shares of the company’s stock, valued at $1,871,114. This represents a 10.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.