Sanctuary Advisors LLC Grows Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Sanctuary Advisors LLC increased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 9.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,606 shares of the technology company’s stock after purchasing an additional 1,065 shares during the quarter. Sanctuary Advisors LLC’s holdings in Aspen Technology were worth $3,162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AZPN. Tortoise Investment Management LLC lifted its stake 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 purchasing an additional 56 shares during the last quarter. Crewe Advisors LLC boosted 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 buying an additional 119 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Aspen Technology during the second quarter valued at about $37,000. Quent Capital LLC raised its stake in shares of Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after acquiring an additional 135 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Aspen Technology in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AZPN shares. StockNews.com initiated coverage on shares of Aspen Technology in a report on Monday. They issued a “hold” rating for the company. Piper Sandler boosted their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Bank of America raised their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird raised their price objective on shares of Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Price Performance

AZPN opened at $249.25 on Wednesday. The business has a fifty day moving average price of $243.79 and a 200 day moving average price of $221.65. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $254.44. The stock has a market capitalization of $15.77 billion, a price-to-earnings ratio of -429.74, a PEG ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data 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 company 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%. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. On average, research analysts anticipate that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

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.