Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by LVW Advisors LLC

LVW Advisors LLC lessened its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,172 shares of the technology company’s stock after selling 86 shares during the period. LVW Advisors LLC’s holdings in Aspen Technology were worth $677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AZPN. Robeco Institutional Asset Management B.V. increased its position in Aspen Technology by 2.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock worth $70,000 after purchasing an additional 735 shares during the last quarter. Principal Securities Inc. acquired a new position in Aspen Technology during the fourth quarter worth approximately $73,000. Steph & Co. increased its position in Aspen Technology by 87.9% during the first quarter. Steph & Co. now owns 791 shares of the technology company’s stock worth $169,000 after purchasing an additional 370 shares during the last quarter. Eagle Bay Advisors LLC increased its position in Aspen Technology by 12.8% during the fourth quarter. Eagle Bay Advisors LLC now owns 902 shares of the technology company’s stock worth $199,000 after purchasing an additional 102 shares during the last quarter. Finally, Austin Private Wealth LLC acquired a new position in Aspen Technology during the fourth quarter worth approximately $202,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Trading Down 0.4 %

Shares of AZPN stock opened at $197.87 on Tuesday. The company has a market capitalization of $12.53 billion, a PE ratio of -449.69, a price-to-earnings-growth ratio of 2.51 and a beta of 0.74. The firm has a fifty day simple moving average of $204.66 and a 200-day simple moving average of $202.72. Aspen Technology, Inc. has a twelve month low of $162.26 and a twelve month high of $224.77.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.39. The business had revenue of $278.11 million during the quarter, compared to the consensus estimate of $251.65 million. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. Equities research analysts predict that Aspen Technology, Inc. will post 5.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AZPN shares. Robert W. Baird reaffirmed an “outperform” rating and set a $230.00 price target on shares of Aspen Technology in a research report on Friday, June 14th. Berenberg Bank upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $255.00 in a research note on Friday, May 17th. Piper Sandler decreased their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, William Blair upgraded shares of Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $219.50.

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.