Otter Creek Advisors LLC Has $5.38 Million Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Otter Creek Advisors LLC increased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 44.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,505 shares of the technology company’s stock after purchasing an additional 6,900 shares during the period. Aspen Technology makes up 3.5% of Otter Creek Advisors LLC’s portfolio, making the stock its 10th biggest position. Otter Creek Advisors LLC’s holdings in Aspen Technology were worth $5,375,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its stake in shares of Aspen Technology by 77.8% during the second 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. Mather Group LLC. grew its stake in shares of 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 during the last quarter. Crewe Advisors LLC grew its stake in shares of Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Aspen Technology during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AZPN. Loop Capital raised 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. Bank of America raised 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. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler lifted their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com began coverage on shares of Aspen Technology in a research report on Friday. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Aspen Technology presently has a consensus rating of “Hold” and an average price target of $253.00.

Aspen Technology Trading Up 1.1 %

Shares of AZPN stock opened at $248.09 on Friday. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $249.91. The firm’s fifty day moving average price is $237.81 and its two-hundred day moving average price is $216.81. The firm has a market capitalization of $15.69 billion, a P/E ratio of -427.74, a PEG ratio of 2.82 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm 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 firm’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share. As a group, equities research analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Insider Transactions at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the sale, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. The trade was a 10.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Aspen Technology 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.