Eagle Bay Advisors LLC Sells 45 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Eagle Bay Advisors LLC decreased its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 667 shares of the technology company’s stock after selling 45 shares during the period. Eagle Bay Advisors LLC’s holdings in Aspen Technology were worth $159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund purchased a new stake in shares of Aspen Technology in the first quarter valued at about $1,487,000. DekaBank Deutsche Girozentrale increased its stake 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 valued at $7,895,000 after acquiring an additional 35,056 shares during the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Aspen Technology during the 2nd quarter valued at about $3,042,000. TimesSquare Capital Management LLC increased its position in Aspen Technology by 8.1% during the 1st quarter. TimesSquare Capital Management LLC now owns 208,585 shares of the technology company’s stock worth $44,487,000 after purchasing an additional 15,685 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Aspen Technology by 52.9% in the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after acquiring an additional 101,586 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

Shares of NASDAQ:AZPN traded down $3.82 during midday trading on Wednesday, reaching $233.43. The company had a trading volume of 13,948 shares, compared to its average volume of 203,555. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $240.82. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of -539.20, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The company has a fifty day simple moving average of $229.21 and a two-hundred day simple moving average of $211.00.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $1.88 by $0.49. The company 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 2.96% and a negative net margin of 0.87%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.87 EPS. Analysts expect that Aspen Technology, Inc. will post 6.53 EPS for the current year.

Insider Transactions at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction 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 sale, the director now 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 legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.