Heritage Wealth Management LLC Makes New $435,000 Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

Heritage Wealth Management LLC bought a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,978 shares of the technology company’s stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC raised its position in shares of Aspen Technology by 43.9% during the third quarter. CWM LLC now owns 226 shares of the technology company’s stock valued at $46,000 after buying an additional 69 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Aspen Technology by 94.4% during the third quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock valued at $71,000 after buying an additional 170 shares during the last quarter. Signaturefd LLC raised its position in shares of Aspen Technology by 152.3% during the third quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock valued at $102,000 after buying an additional 300 shares during the last quarter. Steph & Co. increased its stake in Aspen Technology by 49.2% in the third quarter. Steph & Co. now owns 861 shares of the technology company’s stock valued at $176,000 after acquiring an additional 284 shares during the period. Finally, Quantum Private Wealth LLC bought a new stake in Aspen Technology in the third quarter valued at about $202,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Upgrades and Downgrades

AZPN has been the topic of a number of analyst reports. Piper Sandler reissued a “neutral” rating and issued a $196.00 target price on shares of Aspen Technology in a research note on Wednesday, February 7th. StockNews.com raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $203.67.

Aspen Technology Price Performance

Aspen Technology stock traded up $3.12 during trading hours on Friday, hitting $204.49. 90,657 shares of the stock were exchanged, compared to its average volume of 194,672. Aspen Technology, Inc. has a 12 month low of $161.32 and a 12 month high of $224.77. The business’s 50-day moving average is $201.78 and its two-hundred day moving average is $196.29.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. The company had revenue of $257.16 million for the quarter, compared to the consensus estimate of $259.70 million. On average, equities analysts predict that Aspen Technology, Inc. will post 5.82 earnings per share for the current fiscal year.

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.