Whittier Trust Co. Sells 72 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Whittier Trust Co. trimmed its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,119 shares of the technology company’s stock after selling 72 shares during the period. Whittier Trust Co.’s holdings in Aspen Technology were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AZPN. Illinois Municipal Retirement Fund purchased a new stake in Aspen Technology in the first quarter valued at approximately $1,487,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Aspen Technology by 1,034.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after acquiring an additional 35,056 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in Aspen Technology in the second quarter worth $3,042,000. TimesSquare Capital Management LLC grew its position in Aspen Technology by 8.1% in the first quarter. TimesSquare Capital Management LLC now owns 208,585 shares of the technology company’s stock worth $44,487,000 after acquiring an additional 15,685 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Aspen Technology by 52.9% in the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after acquiring an additional 101,586 shares during the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the transaction, the director now owns 8,540 shares in the company, valued at $1,871,114. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Robert W. Baird increased their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Piper Sandler increased their price target on shares of Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Loop Capital boosted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Bank of America upped their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.40.

Aspen Technology Stock Performance

Shares of Aspen Technology stock opened at $231.97 on Thursday. The company’s 50 day moving average price is $229.58 and its 200-day moving average price is $211.15. Aspen Technology, Inc. has a 52-week low of $162.26 and a 52-week high of $240.82. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of -527.20, a P/E/G ratio of 2.75 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.49. The firm had revenue of $342.91 million for the quarter, compared to analysts’ expectations of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.87 earnings per share. As a group, equities research analysts forecast that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Aspen Technology 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.