LRI Investments LLC Purchases 54 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

LRI Investments LLC boosted its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 6.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 862 shares of the technology company’s stock after buying an additional 54 shares during the quarter. LRI Investments LLC’s holdings in Aspen Technology were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZPN. Mather Group LLC. lifted its position in Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. 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. Benjamin F. Edwards & Company Inc. lifted its holdings in Aspen Technology by 561.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock valued at $48,000 after buying an additional 191 shares during the period. V Square Quantitative Management LLC bought a new position in Aspen Technology in the second quarter valued at approximately $63,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Aspen Technology by 2.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock worth $70,000 after acquiring an additional 735 shares during the period. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $185.00 to $255.00 in a research note on Friday, May 17th. Piper Sandler cut their target price 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. William Blair upgraded Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Finally, Robert W. Baird increased their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $224.50.

Aspen Technology Trading Down 0.7 %

AZPN stock opened at $216.23 on Friday. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $224.06. The firm has a market cap of $13.69 billion, a PE ratio of -491.43, a P/E/G ratio of 2.26 and a beta of 0.73. The business’s 50-day moving average price is $197.92 and its two-hundred day moving average price is $200.51.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, topping 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 company had revenue of $342.91 million for the quarter, compared to analyst estimates of $319.10 million. During the same quarter last year, the firm posted $1.87 earnings per share. Aspen Technology’s revenue was up 6.9% compared to the same quarter last year. On average, analysts forecast that Aspen Technology, Inc. will post 5.52 earnings per share 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.