Mutual of America Capital Management LLC Cuts Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Mutual of America Capital Management LLC trimmed its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,955 shares of the technology company’s stock after selling 705 shares during the period. Mutual of America Capital Management LLC’s holdings in Aspen Technology were worth $3,169,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Tortoise Investment Management LLC raised its stake in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after acquiring an additional 56 shares in the last quarter. 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 valued at $29,000 after buying an additional 130 shares during the period. Crewe Advisors LLC grew its stake in shares of Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after buying an additional 119 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Aspen Technology in the 2nd quarter valued at about $37,000. Institutional investors own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

AZPN has been the topic of several recent research reports. Piper Sandler raised their price target on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Bank of America raised their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Loop Capital upped their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $248.40.

Insider Buying and Selling at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the transaction, the director now directly owns 8,540 shares in the company, valued at $1,871,114. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Aspen Technology Trading Down 0.8 %

Shares of AZPN opened at $233.69 on Tuesday. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $240.82. The firm’s 50-day moving average price is $211.45 and its 200-day moving average price is $206.50. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of -531.11, a PEG ratio of 2.63 and a beta of 0.75.

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