Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 38.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 511 shares of the technology company’s stock after selling 322 shares during the quarter. Farther Finance Advisors LLC’s holdings in Aspen Technology were worth $122,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Aspen Technology by 38.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after purchasing an additional 153,897 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Aspen Technology during the third quarter worth about $290,880,000. Dimensional Fund Advisors LP lifted its holdings in shares of Aspen Technology by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after purchasing an additional 109,783 shares during the period. Clean Energy Transition LLP acquired a new stake in shares of Aspen Technology during the first quarter worth about $22,110,000. Finally, Capital Research Global Investors lifted its holdings in shares of Aspen Technology by 52.9% during the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after purchasing an additional 101,586 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

Aspen Technology stock opened at $248.68 on Tuesday. The stock has a market capitalization of $15.73 billion, a PE ratio of -428.76, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76. Aspen Technology, Inc. has a 12 month low of $162.99 and a 12 month high of $249.91. The business has a 50 day simple moving average of $234.74 and a 200-day simple moving average of $214.24.

Aspen Technology (NASDAQ:AZPN) last posted 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). The business 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 3.26% and a positive return on equity of 2.81%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Insider Activity

In other 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 value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

AZPN has been the subject of a number of research reports. Bank of America lifted their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price target on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Piper Sandler boosted their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Loop Capital boosted 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.