Aspen Technology, Inc. (NASDAQ:AZPN) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 62.3% in the third quarter, Holdings Channel.com reports. The fund owned 1,350 shares of the technology company’s stock after purchasing an additional 518 shares during the period. Venturi Wealth Management LLC’s holdings in Aspen Technology were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in Aspen Technology by 16.1% during the third quarter. Crossmark Global Holdings Inc. now owns 2,187 shares of the technology company’s stock worth $522,000 after purchasing an additional 303 shares in the last quarter. Covestor Ltd boosted its position in shares of Aspen Technology by 47.7% in the 3rd quarter. Covestor Ltd now owns 542 shares of the technology company’s stock worth $130,000 after buying an additional 175 shares in the last quarter. ABLE Financial Group LLC grew its stake in Aspen Technology by 5.9% in the 3rd quarter. ABLE Financial Group LLC now owns 6,422 shares of the technology company’s stock valued at $1,534,000 after acquiring an additional 359 shares during the last quarter. Quantum Private Wealth LLC purchased a new position in Aspen Technology during the 3rd quarter valued at about $235,000. Finally, Portside Wealth Group LLC raised its position in Aspen Technology by 1.8% during the third quarter. Portside Wealth Group LLC now owns 3,764 shares of the technology company’s stock worth $899,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

Aspen Technology stock opened at $246.08 on Wednesday. The company has a market cap of $15.56 billion, a price-to-earnings ratio of -424.28, a PEG ratio of 2.73 and a beta of 0.76. Aspen Technology, Inc. has a 1 year low of $162.99 and a 1 year high of $249.91. The firm has a 50 day moving average price of $235.45 and a 200 day moving average price of $214.94.

Aspen Technology (NASDAQ:AZPN) last released 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 firm 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 company earned $0.96 earnings per share. The company’s quarterly revenue was down 13.4% on a year-over-year basis. Sell-side analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Insider Activity

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction that occurred on 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 owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AZPN. Robert W. Baird raised their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America upped their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research 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 research report on Thursday, September 19th. Finally, Piper Sandler upped their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.