B. Riley Wealth Advisors Inc. Cuts Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

B. Riley Wealth Advisors Inc. trimmed its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 21.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 910 shares of the technology company’s stock after selling 253 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Aspen Technology were worth $217,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Tortoise Investment Management LLC boosted its holdings in shares of Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. Crewe Advisors LLC boosted its holdings in 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 purchasing an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Aspen Technology during the 2nd quarter worth approximately $37,000. Quent Capital LLC raised its stake in shares of Aspen Technology by 364.9% during the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after buying an additional 135 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Aspen Technology in the 3rd quarter valued at approximately $48,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AZPN. Robert W. Baird upped their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler upped their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, StockNews.com began coverage on Aspen Technology in a report on Monday, December 16th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $258.00.

Aspen Technology Price Performance

Shares of AZPN opened at $250.72 on Friday. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $254.44. The firm has a 50 day simple moving average of $244.92 and a 200-day simple moving average of $222.69. The stock has a market cap of $15.86 billion, a price-to-earnings ratio of -432.28, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76.

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