Austin Private Wealth LLC Makes New $219,000 Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

Austin Private Wealth LLC acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 917 shares of the technology company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Illinois Municipal Retirement Fund purchased a new stake in shares of Aspen Technology in the first quarter valued at about $1,487,000. DekaBank Deutsche Girozentrale grew its position in Aspen Technology by 1,034.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock valued at $7,895,000 after buying an additional 35,056 shares during the period. Lombard Odier Asset Management Europe Ltd bought a new position in Aspen Technology during the second quarter valued at about $3,042,000. TimesSquare Capital Management LLC grew its position in Aspen Technology by 8.1% during the first quarter. TimesSquare Capital Management LLC now owns 208,585 shares of the technology company’s stock valued at $44,487,000 after buying an additional 15,685 shares during the period. Finally, Capital Research Global Investors grew its position in Aspen Technology by 52.9% during the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after buying an additional 101,586 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of AZPN opened at $241.00 on Wednesday. The firm’s 50 day simple moving average is $233.69 and its 200 day simple moving average is $213.24. The company has a market capitalization of $15.24 billion, a P/E ratio of -1,506.16, a P/E/G ratio of 2.73 and a beta of 0.76. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $248.00.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. On average, equities analysts anticipate that Aspen Technology, Inc. will post 6.53 earnings per share for the current year.

Insiders Place Their Bets

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now directly owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Loop Capital increased their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Bank of America increased their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Robert W. Baird increased their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler increased their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Aspen Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

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.