Skandinaviska Enskilda Banken AB publ Purchases 712 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Skandinaviska Enskilda Banken AB publ lifted its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,099 shares of the technology company’s stock after acquiring an additional 712 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Aspen Technology were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tortoise Investment Management LLC lifted its stake in Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares during the period. Mather Group LLC. lifted its position in shares of Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Crewe Advisors LLC boosted its stake in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after acquiring an additional 119 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Aspen Technology in the second quarter valued at $37,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Trading Down 0.8 %

NASDAQ AZPN opened at $233.69 on Tuesday. The business has a fifty day simple moving average of $211.45 and a 200 day simple moving average of $206.50. Aspen Technology, Inc. has a 12 month low of $162.26 and a 12 month high of $240.82. The firm has a market capitalization of $14.80 billion, a P/E ratio of -531.11, a PEG ratio of 2.63 and a beta of 0.75.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate 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 company had revenue of $342.91 million during the quarter, compared to the consensus estimate of $319.10 million. During the same quarter in the prior year, the company posted $1.87 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Loop Capital raised 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. Robert W. Baird boosted 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. Piper Sandler increased their target price on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Finally, Bank of America lifted their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Three equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $248.40.

Insiders Place Their Bets

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology 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 sale, the director now directly owns 8,540 shares in the company, valued at approximately $1,871,114. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.