Aspen Technology, Inc. (NASDAQ:AZPN) Stock Position Lifted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,095 shares of the technology company’s stock after purchasing an additional 105 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Aspen Technology were worth $218,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Aspen Technology by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 612,024 shares of the technology company’s stock worth $134,737,000 after purchasing an additional 44,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Aspen Technology by 38.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after purchasing an additional 153,897 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Aspen Technology by 3.8% in the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after purchasing an additional 12,500 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Aspen Technology by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock worth $68,931,000 after purchasing an additional 16,649 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Aspen Technology by 52.9% in the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after purchasing an additional 101,586 shares in the last quarter. Institutional investors own 45.66% of the company’s stock.

Insider Activity at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction 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 transaction, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AZPN has been the subject of several research analyst reports. Loop Capital upped their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird upped their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America upped their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler upped their price objective on Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.40.

Aspen Technology Stock Down 1.5 %

NASDAQ:AZPN opened at $235.56 on Monday. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $240.82. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of -535.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. The stock has a fifty day simple moving average of $210.72 and a 200 day simple moving average of $206.34.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share 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 analyst estimates of $319.10 million. During the same quarter last year, the company posted $1.87 EPS. Aspen Technology’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts predict that Aspen Technology, Inc. will post 6.53 earnings per share for the current year.

About Aspen Technology

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.