Landscape Capital Management L.L.C. Acquires 247 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Landscape Capital Management L.L.C. raised its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 13.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,085 shares of the technology company’s stock after acquiring an additional 247 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Aspen Technology were worth $498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its position in shares of Aspen Technology by 77.8% in the second 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 during the last quarter. Mather Group LLC. boosted its holdings in shares of Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after buying an additional 130 shares during the last quarter. Crewe Advisors LLC boosted its holdings in shares of 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 last quarter. GAMMA Investing LLC increased its holdings 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 buying an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Aspen Technology during the second quarter worth $37,000. 45.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of analyst reports. Bank of America lifted their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Loop Capital upped their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. StockNews.com began coverage on Aspen Technology in a research report on Friday. They issued a “hold” rating for the company. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $253.00.

Aspen Technology Trading Up 0.9 %

NASDAQ:AZPN opened at $250.85 on Friday. The stock has a 50 day simple moving average of $238.78 and a 200 day simple moving average of $217.40. The stock has a market cap of $15.87 billion, a P/E ratio of -432.50, a PEG ratio of 2.83 and a beta of 0.76. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $251.13.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $265.04 million. During the same period in the prior year, the business posted $0.96 EPS. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s 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 10.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

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.