Aspen Technology, Inc. (NASDAQ:AZPN) Shares Purchased by Commerce Bank

Commerce Bank raised its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 3.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,550 shares of the technology company’s stock after acquiring an additional 47 shares during the period. Commerce Bank’s holdings in Aspen Technology were worth $370,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new stake in shares of Aspen Technology in the 3rd quarter worth approximately $6,080,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Aspen Technology in the third quarter valued at $1,100,000. CIBC Asset Management Inc lifted its position in shares of Aspen Technology by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 2,032 shares of the technology company’s stock valued at $485,000 after acquiring an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Aspen Technology by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,613 shares of the technology company’s stock worth $624,000 after acquiring an additional 73 shares in the last quarter. Finally, Curi RMB Capital LLC boosted its stake in shares of Aspen Technology by 0.4% during the 3rd quarter. Curi RMB Capital LLC now owns 21,286 shares of the technology company’s stock worth $5,084,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

Shares of AZPN opened at $250.40 on Wednesday. The company has a market capitalization of $15.84 billion, a PE ratio of -432.66, a PEG ratio of 2.86 and a beta of 0.76. The company’s 50 day moving average price is $239.28 and its 200 day moving average price is $218.05. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $254.04.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The company’s revenue was down 13.4% on a year-over-year basis. On average, equities analysts forecast that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Aspen Technology in a research report on Friday, November 22nd. They set a “hold” rating on the stock. Robert W. Baird upped their price objective 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. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America boosted their price target 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. Finally, Piper Sandler raised their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from 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.