Otter Creek Advisors LLC Cuts Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Otter Creek Advisors LLC cut its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 91.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,012 shares of the technology company’s stock after selling 20,493 shares during the quarter. Otter Creek Advisors LLC’s holdings in Aspen Technology were worth $502,000 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. Commerce Bank raised its position in Aspen Technology by 3.1% in the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares during the period. Heritage Family Offices LLP grew its stake in shares of Aspen Technology by 2.8% during the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after buying an additional 47 shares during the last quarter. US Bancorp DE increased its holdings in shares of Aspen Technology by 0.4% in the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after buying an additional 50 shares during the period. State of Alaska Department of Revenue grew its position in Aspen Technology by 1.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock worth $736,000 after acquiring an additional 55 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares during the period. 45.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZPN has been the subject of a number of analyst reports. StockNews.com assumed coverage on shares of Aspen Technology in a report on Wednesday. They set a “hold” rating for the company. Robert W. Baird reissued a “neutral” rating and set a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Aspen Technology currently has an average rating of “Hold” and a consensus target price of $272.00.

Aspen Technology Trading Down 0.1 %

Shares of AZPN stock opened at $263.59 on Thursday. The company’s fifty day moving average price is $257.24 and its 200-day moving average price is $243.54. The stock has a market cap of $16.69 billion, a PE ratio of 3,295.29, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. On average, sell-side analysts forecast that Aspen Technology, Inc. will post 6.7 earnings per share for the current fiscal 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.