4,606 Shares in Aspen Technology, Inc. (NASDAQ:AZPN) Purchased by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 4,606 shares of the technology company’s stock, valued at approximately $1,100,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Aspen Technology by 1.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after buying an additional 65,143 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after acquiring an additional 28,820 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Aspen Technology by 38.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after acquiring an additional 153,897 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Aspen Technology by 26.5% in 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. Finally, Fiera Capital Corp increased its stake in Aspen Technology by 3.8% in the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after purchasing an additional 12,500 shares during the period. 45.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird raised their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America boosted their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, StockNews.com started coverage on Aspen Technology in a report on Friday. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $253.00.

Insiders Place Their Bets

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 value of $219,100.00. Following the transaction, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. This represents a 10.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Aspen Technology Trading Up 0.9 %

Shares of NASDAQ:AZPN opened at $250.85 on Friday. The business’s fifty day simple moving average is $238.78 and its 200-day simple moving average is $217.40. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $251.13. The company has a market capitalization of $15.87 billion, a PE ratio of -432.50, a P/E/G ratio of 2.83 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results 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 negative net margin of 3.26% and a positive return on equity of 2.81%. The firm had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same period in the previous year, the company earned $0.96 EPS. The company’s revenue was down 13.4% on a year-over-year basis. Research analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current 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.