B. Riley Wealth Advisors Inc. Decreases Position in Aspen Technology, Inc. (NASDAQ:AZPN)

B. Riley Wealth Advisors Inc. lowered its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 21.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 910 shares of the technology company’s stock after selling 253 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Aspen Technology were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Commerce Bank increased its holdings in Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares during the period. US Bancorp DE increased its stake in shares of Aspen Technology by 0.4% during the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after buying an additional 50 shares during the period. State of Alaska Department of Revenue raised its holdings in Aspen Technology by 1.8% in the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after acquiring an additional 55 shares in the last quarter. Tortoise Investment Management LLC lifted 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 worth $25,000 after acquiring an additional 56 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Aspen Technology by 4.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company’s stock worth $305,000 after acquiring an additional 60 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Stock Up 0.7 %

NASDAQ:AZPN opened at $250.72 on Friday. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.44. The stock’s 50 day moving average price is $244.92 and its 200 day moving average price is $222.69. The company has a market capitalization of $15.86 billion, a PE ratio of -432.28, a P/E/G ratio of 2.89 and a beta of 0.76.

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

Wall Street Analysts Forecast Growth

AZPN has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Aspen Technology in a research report on Monday, December 16th. They set a “hold” rating for the company. Piper Sandler lifted their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital upped their price target on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Robert W. Baird raised their price objective on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $258.00.

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.