Aspen Technology, Inc. (NASDAQ:AZPN) Position Increased by Thrive Wealth Management LLC

Thrive Wealth Management LLC increased its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,148 shares of the technology company’s stock after buying an additional 125 shares during the quarter. Thrive Wealth Management LLC’s holdings in Aspen Technology were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its holdings in shares of Aspen Technology by 63.6% during the third quarter. HighTower Advisors LLC now owns 2,713 shares of the technology company’s stock valued at $559,000 after acquiring an additional 1,055 shares during the period. PNC Financial Services Group Inc. lifted its position in Aspen Technology by 4.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,592 shares of the technology company’s stock valued at $325,000 after purchasing an additional 66 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in Aspen Technology by 9.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 1,325 shares of the technology company’s stock valued at $271,000 after purchasing an additional 113 shares during the period. Hsbc Holdings PLC grew its position in Aspen Technology by 340.4% in the 3rd quarter. Hsbc Holdings PLC now owns 8,407 shares of the technology company’s stock worth $1,722,000 after purchasing an additional 6,498 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of Aspen Technology by 19.6% in the third quarter. LPL Financial LLC now owns 19,388 shares of the technology company’s stock valued at $3,960,000 after purchasing an additional 3,179 shares during the period. 45.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $255.00 in a report on Friday, May 17th. Robert W. Baird reissued an “outperform” rating and issued a $230.00 price target on shares of Aspen Technology in a research note on Friday, June 14th. Piper Sandler cut their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, William Blair raised shares of Aspen Technology to a “hold” rating in a report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $219.50.

Aspen Technology Stock Up 4.0 %

Aspen Technology stock traded up $7.52 during midday trading on Thursday, hitting $197.89. The company’s stock had a trading volume of 169,545 shares, compared to its average volume of 208,758. Aspen Technology, Inc. has a 12 month low of $162.26 and a 12 month high of $224.77. The company has a market capitalization of $12.53 billion, a PE ratio of -449.74, a price-to-earnings-growth ratio of 2.50 and a beta of 0.76. The stock’s 50-day moving average price is $204.64 and its 200-day moving average price is $202.76.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, May 7th. The technology company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.39. The business had revenue of $278.11 million for the quarter, compared to the consensus estimate of $251.65 million. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. As a group, equities analysts anticipate that Aspen Technology, Inc. will post 5.52 EPS 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.