Aspen Technology, Inc. (NASDAQ:AZPN) Stock Holdings Raised by Otter Creek Advisors LLC

Otter Creek Advisors LLC raised its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 44.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,505 shares of the technology company’s stock after purchasing an additional 6,900 shares during the quarter. Aspen Technology accounts for 3.5% of Otter Creek Advisors LLC’s portfolio, making the stock its 10th largest position. Otter Creek Advisors LLC’s holdings in Aspen Technology were worth $5,375,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its position in shares of Aspen Technology by 1,034.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after acquiring an additional 35,056 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in Aspen Technology during the 2nd quarter valued at approximately $3,042,000. Capital Research Global Investors boosted its position in Aspen Technology by 52.9% during the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after purchasing an additional 101,586 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in Aspen Technology by 89.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock valued at $432,000 after purchasing an additional 998 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after purchasing an additional 28,820 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Up 1.1 %

Shares of NASDAQ AZPN opened at $248.09 on Friday. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of -427.74, a PEG ratio of 2.82 and a beta of 0.76. The stock’s fifty day simple moving average is $237.81 and its 200 day simple moving average is $216.81. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $249.91.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same quarter in the previous year, the business posted $0.96 earnings per share. The company’s revenue was down 13.4% compared to the same quarter last year. As a group, analysts anticipate that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Insider Buying and Selling

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s 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 sale, the director now directly owns 8,540 shares in the company, valued at $1,871,114. This represents a 10.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. 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 research report on Wednesday, August 7th. Piper Sandler lifted their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Bank of America lifted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, StockNews.com started coverage on Aspen Technology in a research note on Friday. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $253.00.

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.