LVW Advisors LLC Purchases 214 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

LVW Advisors LLC boosted its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 6.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,386 shares of the technology company’s stock after purchasing an additional 214 shares during the period. LVW Advisors LLC’s holdings in Aspen Technology were worth $673,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MJP Associates Inc. ADV raised its position in shares of Aspen Technology by 7.3% in the second quarter. MJP Associates Inc. ADV now owns 1,447 shares of the technology company’s stock valued at $287,000 after purchasing an additional 98 shares during the period. Curated Wealth Partners LLC grew its stake in Aspen Technology by 182.6% in the 2nd quarter. Curated Wealth Partners LLC now owns 1,144 shares of the technology company’s stock valued at $227,000 after buying an additional 2,529 shares during the last quarter. Thrive Wealth Management LLC raised its holdings in Aspen Technology by 9.4% in the 2nd quarter. Thrive Wealth Management LLC now owns 1,256 shares of the technology company’s stock valued at $249,000 after acquiring an additional 108 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its position in Aspen Technology by 2.5% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 2,654 shares of the technology company’s stock worth $527,000 after acquiring an additional 65 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Aspen Technology during the second quarter worth approximately $824,000. Institutional investors own 45.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AZPN. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $255.00 in a report on Friday, May 17th. 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. William Blair upgraded shares of Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Finally, Piper Sandler lowered their price objective on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $224.50.

Aspen Technology Stock Performance

Shares of NASDAQ AZPN traded up $2.41 during trading hours on Tuesday, hitting $211.54. 6,287 shares of the stock were exchanged, compared to its average volume of 206,908. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $224.06. The company has a market cap of $13.40 billion, a PE ratio of -475.30, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73. The company’s fifty day simple moving average is $195.86 and its two-hundred day simple moving average is $199.39.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The firm had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. During the same quarter last year, the business posted $1.87 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Aspen Technology, Inc. will post 5.52 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.