KBC Group NV Buys 1,535 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

KBC Group NV boosted its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,966 shares of the technology company’s stock after purchasing an additional 1,535 shares during the quarter. KBC Group NV owned about 0.06% of Aspen Technology worth $9,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tortoise Investment Management LLC raised its position in shares of Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. Mather Group LLC. raised its position in Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC lifted its stake in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC lifted its stake in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Aspen Technology in the 2nd quarter valued at $37,000. Institutional investors own 45.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on AZPN shares. Piper Sandler boosted their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Thursday. They issued a “hold” rating on the stock. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America increased 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. Finally, Loop Capital boosted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $253.00.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $246.88 on Friday. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $249.91. The company has a market cap of $15.62 billion, a PE ratio of -425.66, a P/E/G ratio of 2.81 and a beta of 0.76. The firm’s 50 day simple moving average is $236.61 and its 200 day simple moving average is $215.83.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. Equities research analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Insider Buying and Selling at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now directly owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This represents a 10.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Aspen Technology Company 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.