Raymond James Trust N.A. Acquires Shares of 1,053 Aspen Technology, Inc. (NASDAQ:AZPN)

Raymond James Trust N.A. bought a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 3rd quarter, Holdings Channel.com reports. The fund bought 1,053 shares of the technology company’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bayesian Capital Management LP bought a new position in Aspen Technology during the 1st quarter worth $357,000. B. Riley Wealth Advisors Inc. raised its stake in Aspen Technology by 89.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock valued at $432,000 after purchasing an additional 998 shares in the last quarter. Tidal Investments LLC lifted its position in Aspen Technology by 53.4% during the first quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock worth $361,000 after purchasing an additional 589 shares during the period. LRI Investments LLC acquired a new stake in Aspen Technology during the first quarter worth about $168,000. Finally, Cetera Advisors LLC bought a new position in Aspen Technology in the 1st quarter valued at about $262,000. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AZPN has been the topic of several analyst reports. Bank of America increased their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler lifted their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com began coverage on Aspen Technology in a research report on Friday, November 22nd. They set a “hold” rating for the company. Finally, Loop Capital lifted their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $253.00.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $250.00 on Thursday. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $254.04. The stock’s fifty day simple moving average is $239.62 and its 200 day simple moving average is $218.34.

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 the consensus estimate of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. During the same quarter last year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, equities analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current 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.