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

Aigen Investment Management LP bought a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,516 shares of the technology company’s stock, valued at approximately $362,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AZPN. Empowered Funds LLC lifted its holdings in Aspen Technology by 3.7% in the first quarter. Empowered Funds LLC now owns 4,108 shares of the technology company’s stock worth $876,000 after purchasing an additional 146 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Aspen Technology during the first quarter valued at approximately $211,000. Entropy Technologies LP bought a new stake in Aspen Technology during the first quarter worth approximately $382,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Aspen Technology by 46.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,060 shares of the technology company’s stock valued at $3,639,000 after purchasing an additional 5,427 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Aspen Technology in the first quarter worth about $469,000. Institutional investors own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AZPN. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird raised their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Loop Capital boosted 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. StockNews.com started coverage on shares of Aspen Technology in a research report on Thursday. They issued a “hold” rating for the company. Finally, Piper Sandler upped their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Stock Performance

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

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) 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 company had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same quarter last year, the company earned $0.96 EPS. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. As a group, research analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction dated 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 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.