Diversify Wealth Management LLC Purchases Shares of 964 Aspen Technology, Inc. (NASDAQ:AZPN)

Diversify Wealth Management LLC acquired a new position in Aspen Technology, Inc. (NASDAQ:AZPN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 964 shares of the technology company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tortoise Investment Management LLC raised its position in Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after purchasing an additional 130 shares during the last quarter. Crewe Advisors LLC lifted its position in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares during the period. GAMMA Investing LLC boosted its holdings in Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Aspen Technology during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America upped their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler upped their price objective on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Loop Capital lifted their target price on shares of 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 boosted their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.40.

Insider Buying and Selling at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology 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 sale, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Aspen Technology Price Performance

Aspen Technology stock opened at $233.67 on Friday. The stock has a market capitalization of $14.78 billion, a PE ratio of -1,466.97, a price-to-earnings-growth ratio of 2.81 and a beta of 0.76. The business has a 50 day simple moving average of $232.34 and a 200-day simple moving average of $212.23. Aspen Technology, Inc. has a 12 month low of $162.26 and a 12 month high of $244.85.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The company had revenue of $342.91 million during the quarter, compared to analysts’ expectations of $319.10 million. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 earnings per share. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.53 EPS 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.