Forum Financial Management LP Takes $208,000 Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Forum Financial Management LP purchased a new position in Aspen Technology, Inc. (NASDAQ:AZPN) during the third quarter, Holdings Channel.com reports. The firm purchased 869 shares of the technology company’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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. grew its position in Aspen Technology by 38.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after purchasing 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 valued at $104,199,000 after purchasing an additional 109,783 shares during the period. Fiera Capital Corp lifted its holdings in shares of Aspen Technology by 3.8% in 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 buying an additional 101,586 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction, the director now directly owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Aspen Technology Stock Performance

Shares of AZPN opened at $241.00 on Wednesday. The firm has a market cap of $15.24 billion, a PE ratio of -1,506.16, a PEG ratio of 2.73 and a beta of 0.76. The firm’s 50 day moving average price is $233.69 and its 200 day moving average price is $213.24. Aspen Technology, Inc. has a twelve month low of $162.26 and a twelve month high of $248.00.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share 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 the consensus estimate of $265.04 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 EPS. On average, sell-side analysts anticipate that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AZPN has been the topic of several recent analyst reports. Robert W. Baird upped their price target on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America upped 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. Piper Sandler raised their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Loop Capital upped their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Aspen Technology has an average rating of “Moderate Buy” and an average price target of $253.00.

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.