Azzad Asset Management Inc. ADV Sells 1,188 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Azzad Asset Management Inc. ADV cut its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 21.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,460 shares of the technology company’s stock after selling 1,188 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Aspen Technology were worth $886,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. increased its holdings in shares of Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Crewe Advisors LLC increased its holdings in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after acquiring an additional 119 shares during the period. GAMMA Investing LLC increased its holdings in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology in the 2nd quarter valued at $37,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Aspen Technology by 561.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock valued at $48,000 after acquiring an additional 191 shares during the period. 45.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AZPN. Piper Sandler cut their price target on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $255.00 in a research note on Friday, May 17th. Robert W. Baird boosted their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, William Blair upgraded Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.50.

Aspen Technology Stock Performance

Aspen Technology stock opened at $234.14 on Friday. The business’s 50-day simple moving average is $200.61 and its two-hundred day simple moving average is $201.58. The company has a market cap of $14.83 billion, a PE ratio of -532.14, a PEG ratio of 2.26 and a beta of 0.73. Aspen Technology, Inc. has a fifty-two week low of $162.26 and a fifty-two week high of $235.10.

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

Insider Activity

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was 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 of the company’s stock, valued at approximately $1,871,114. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.