Wesbanco Bank Inc. reduced its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) by 58.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,628 shares of the technology company's stock after selling 2,250 shares during the quarter. Wesbanco Bank Inc.'s holdings in Aspen Technology were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Taconic Capital Advisors LP bought a new stake in shares of Aspen Technology in the 1st quarter valued at about $13,560,000. Quantum Private Wealth LLC bought a new stake in shares of Aspen Technology in the 1st quarter valued at about $214,000. EverSource Wealth Advisors LLC increased its stake in shares of Aspen Technology by 107.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,708 shares of the technology company's stock valued at $613,000 after acquiring an additional 1,924 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Aspen Technology in the 1st quarter valued at approximately $620,000. Finally, Gabelli Funds LLC grew its position in shares of Aspen Technology by 67.9% in the 1st quarter. Gabelli Funds LLC now owns 35,352 shares of the technology company's stock valued at $5,846,000 after purchasing an additional 14,297 shares during the period. 93.73% of the stock is owned by institutional investors.
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Insider Activity
In other news, VP F G. Hammond sold 4,262 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $211.57, for a total value of $901,711.34. Following the completion of the sale, the vice president now owns 20,606 shares of the company's stock, valued at approximately $4,359,611.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.
Aspen Technology Trading Up 5.1 %
NASDAQ:AZPN opened at $232.67 on Wednesday. The company has a market cap of $15.08 billion, a P/E ratio of 62.05, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. The company has a quick ratio of 4.07, a current ratio of 3.47 and a debt-to-equity ratio of 0.02. Aspen Technology, Inc. has a twelve month low of $122.29 and a twelve month high of $234.02. The business has a 50 day moving average price of $211.01 and a two-hundred day moving average price of $187.27.
Aspen Technology (NASDAQ:AZPN – Get Rating) last released its quarterly earnings data on Monday, August 8th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.07 by $0.36. The company had revenue of $238.90 million during the quarter, compared to the consensus estimate of $293.17 million. Aspen Technology had a return on equity of 8.23% and a net margin of 31.82%. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. As a group, analysts expect that Aspen Technology, Inc. will post 6.16 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently issued reports on AZPN shares. Bank of America boosted their price objective on Aspen Technology from $176.00 to $230.00 and gave the company a "buy" rating in a research report on Monday, June 6th. StockNews.com upgraded Aspen Technology from a "sell" rating to a "hold" rating in a research report on Tuesday, July 12th. Robert W. Baird boosted their price objective on Aspen Technology to $182.00 in a research report on Monday, August 15th. Piper Sandler boosted their price objective on Aspen Technology from $189.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, September 19th. Finally, KeyCorp upped their price target on Aspen Technology from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, July 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aspen Technology currently has a consensus rating of "Hold" and a consensus price target of $217.40.
Aspen Technology Company Profile
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Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.
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