Federated Hermes Inc. Raises Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Federated Hermes Inc. increased its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 29.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,077 shares of the technology company’s stock after purchasing an additional 707 shares during the period. Federated Hermes Inc.’s holdings in Aspen Technology were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tortoise Investment Management LLC boosted 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 acquiring an additional 56 shares in the last quarter. Mather Group LLC. boosted its holdings in Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after buying an additional 130 shares in the last quarter. Crewe Advisors LLC grew its holdings in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after acquiring an additional 119 shares during the period. 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 valued at $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Aspen Technology during the 2nd quarter valued at about $37,000. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 8,540 shares of the company’s stock, valued at $1,871,114. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird increased their target price 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 lifted their price objective 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 upped their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Loop Capital lifted their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.40.

Aspen Technology Trading Down 0.8 %

Shares of NASDAQ:AZPN opened at $233.69 on Tuesday. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of -531.11, a PEG ratio of 2.63 and a beta of 0.75. The stock’s 50-day moving average price is $211.45 and its two-hundred day moving average price is $206.50. Aspen Technology, Inc. has a 12-month low of $162.26 and a 12-month high of $240.82.

Aspen Technology (NASDAQ:AZPN) last released its 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. The firm had revenue of $342.91 million during the quarter, compared to the consensus estimate of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. Aspen Technology’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.87 earnings per share. As a group, research analysts forecast that Aspen Technology, Inc. will post 6.53 earnings per share 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.