Wealth Enhancement Advisory Services LLC Boosts Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Wealth Enhancement Advisory Services LLC lifted its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,312 shares of the technology company’s stock after purchasing an additional 133 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Aspen Technology were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in shares of Aspen Technology by 8.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,665 shares of the technology company’s stock worth $398,000 after purchasing an additional 129 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Aspen Technology by 6.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 6,165 shares of the technology company’s stock worth $1,472,000 after buying an additional 377 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Aspen Technology in the 3rd quarter worth about $290,880,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Aspen Technology by 193.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 548 shares of the technology company’s stock worth $131,000 after buying an additional 361 shares in the last quarter. Finally, Arlington Partners LLC increased its holdings in Aspen Technology by 20.4% in the 3rd quarter. Arlington Partners LLC now owns 19,322 shares of the technology company’s stock worth $4,614,000 after buying an additional 3,274 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Trading Down 0.4 %

Shares of NASDAQ:AZPN opened at $245.00 on Monday. The stock has a 50 day moving average of $234.74 and a 200 day moving average of $214.24. The company has a market cap of $15.50 billion, a PE ratio of -422.41, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. Aspen Technology, Inc. has a 12-month low of $162.26 and a 12-month high of $249.00.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company’s revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 earnings per share. Equities research analysts predict that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Insider Activity at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 in the company, valued at approximately $1,871,114. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AZPN. Bank of America lifted their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Loop Capital lifted their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Robert W. Baird lifted their price objective on 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 Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.