ABLE Financial Group LLC Grows Position in Aspen Technology, Inc. (NASDAQ:AZPN)

ABLE Financial Group LLC grew its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 5.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,422 shares of the technology company’s stock after acquiring an additional 359 shares during the period. ABLE Financial Group LLC’s holdings in Aspen Technology were worth $1,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tortoise Investment Management LLC grew 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 worth $25,000 after acquiring an additional 56 shares during the period. Mather Group LLC. boosted 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 in the last quarter. Crewe Advisors LLC boosted its position in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC grew its holdings in Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology in the second quarter valued at $37,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now directly owns 8,540 shares in the company, valued at $1,871,114. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Aspen Technology Stock Up 0.5 %

Shares of AZPN traded up $1.33 on Friday, hitting $247.30. 66,185 shares of the stock traded hands, compared to its average volume of 219,459. The firm has a market capitalization of $15.64 billion, a P/E ratio of -424.09, a P/E/G ratio of 2.77 and a beta of 0.76. The stock’s 50 day moving average is $234.52 and its two-hundred day moving average is $213.68. Aspen Technology, Inc. has a 1 year low of $162.26 and a 1 year high of $249.00.

Aspen Technology (NASDAQ:AZPN) last issued 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 negative net margin of 3.26% and a positive return on equity of 2.81%. The business had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. During the same quarter last year, the firm posted $0.96 earnings per share. The company’s revenue was down 13.4% on a year-over-year basis. Research analysts forecast that Aspen Technology, Inc. will post 6.53 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on AZPN shares. Robert W. Baird boosted their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Piper Sandler upped their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America raised their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Loop Capital upped their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Aspen Technology currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Aspen Technology 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.