Whittier Trust Co. of Nevada Inc. Boosts Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 193.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 548 shares of the technology company’s stock after purchasing an additional 361 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Aspen Technology were worth $131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Aspen Technology by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after buying an additional 65,143 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Aspen Technology by 38.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after acquiring an additional 153,897 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Aspen Technology by 26.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after acquiring an additional 109,783 shares during the period. Fiera Capital Corp lifted its holdings in Aspen Technology by 3.8% during the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock valued at $67,567,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Aspen Technology by 52.9% in the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after purchasing an additional 101,586 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’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 value of $219,100.00. Following the completion of the sale, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $231.97 on Thursday. The stock has a 50 day moving average price of $229.58 and a 200-day moving average price of $211.15. Aspen Technology, Inc. has a one year low of $162.26 and a one year high of $240.82. The company has a market capitalization of $14.69 billion, a P/E 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 EPS for the quarter, beating the consensus estimate of $1.88 by $0.49. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The business had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. During the same quarter last year, the business earned $1.87 earnings per share. Aspen Technology’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Aspen Technology, Inc. will post 6.53 EPS 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.