State of Alaska Department of Revenue Acquires 55 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

State of Alaska Department of Revenue increased its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 1.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,084 shares of the technology company’s stock after purchasing an additional 55 shares during the quarter. State of Alaska Department of Revenue’s holdings in Aspen Technology were worth $736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tortoise Investment Management LLC raised its stake in shares of Aspen Technology by 77.8% during the second 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 stake 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 buying an additional 130 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after buying an additional 119 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Aspen Technology during the second quarter worth approximately $37,000. 45.66% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the completion of the transaction, the director now owns 8,540 shares in the company, valued at $1,871,114. This represents 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 the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AZPN shares. Piper Sandler boosted their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Loop Capital boosted their price objective 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, Bank of America boosted their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Aspen Technology currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Aspen Technology Stock Up 1.4 %

Aspen Technology stock opened at $244.33 on Thursday. The stock has a market capitalization of $15.45 billion, a PE ratio of -1,526.97, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76. Aspen Technology, Inc. has a twelve month low of $162.26 and a twelve month high of $248.00. The company has a 50 day moving average of $234.19 and a 200-day moving average of $213.46.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). The company 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 0.87% and a positive return on equity of 2.96%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Equities analysts anticipate that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal year.

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.