Lombard Odier Asset Management Europe Ltd Takes $3.04 Million Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,315 shares of the technology company’s stock, valued at approximately $3,042,000.

Several other hedge funds also recently made changes to their positions in the company. Tortoise Investment Management LLC raised its holdings 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 valued at $25,000 after acquiring an additional 56 shares in the last quarter. Mather Group LLC. grew its position in 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 purchasing an additional 130 shares during the last quarter. Crewe Advisors LLC increased its position 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 acquiring an additional 119 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Aspen Technology in the 2nd quarter worth about $37,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction dated Wednesday, August 28th. The shares were 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 of the company’s stock, valued at approximately $1,871,114. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Aspen Technology Trading Down 0.8 %

Shares of NASDAQ:AZPN opened at $233.69 on Tuesday. The company 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. Aspen Technology, Inc. has a 12 month low of $162.26 and a 12 month high of $240.82. The company has a 50-day moving average price of $211.45 and a 200 day moving average price of $206.50.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on AZPN shares. Bank of America increased their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Robert W. Baird upped their target price 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. Piper Sandler lifted their price objective on shares of Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Finally, Loop Capital boosted their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.40.

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.