Envestnet Asset Management Inc. Has $36.18 Million Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Envestnet Asset Management Inc. lifted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,152 shares of the technology company’s stock after purchasing an additional 7,078 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.29% of Aspen Technology worth $36,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AZPN. Oppenheimer Asset Management Inc. boosted its stake in Aspen Technology by 10.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,095 shares of the technology company’s stock worth $218,000 after buying an additional 105 shares in the last quarter. CoreCap Advisors LLC bought a new position in shares of Aspen Technology during the 2nd quarter worth about $315,000. Federated Hermes Inc. boosted its position in shares of Aspen Technology by 29.8% during the 2nd quarter. Federated Hermes Inc. now owns 3,077 shares of the technology company’s stock valued at $611,000 after acquiring an additional 707 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Aspen Technology by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 38,840 shares of the technology company’s stock valued at $7,660,000 after acquiring an additional 395 shares during the period. Finally, American Century Companies Inc. raised its position in Aspen Technology by 1.9% in the second quarter. American Century Companies Inc. now owns 12,715 shares of the technology company’s stock worth $2,526,000 after purchasing an additional 234 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America lifted their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird boosted their price target on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Piper Sandler increased their price objective on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Loop Capital upped their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $248.40.

Aspen Technology Stock Performance

Shares of AZPN opened at $235.56 on Friday. The company has a market cap of $14.92 billion, a price-to-earnings ratio of -535.36, a PEG ratio of 2.63 and a beta of 0.75. The stock has a fifty day moving average price of $210.72 and a two-hundred day moving average price of $206.16. Aspen Technology, Inc. has a 52-week low of $162.26 and a 52-week high of $240.82.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The business had revenue of $342.91 million during the quarter, compared to analysts’ expectations of $319.10 million. During the same period in the previous year, the business posted $1.87 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the sale, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.