Aspen Technology, Inc. (NASDAQ:AZPN) Sees Significant Decrease in Short Interest

by · The Cerbat Gem

Aspen Technology, Inc. (NASDAQ:AZPN – Get Free Report) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,320,000 shares, a drop of 9.0% from the September 30th total of 1,450,000 shares. Based on an average daily trading volume, of 201,200 shares, the short-interest ratio is currently 6.6 days. Currently, 5.0% of the company’s shares are short sold.

Insider Transactions at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Aspen Technology

Institutional investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in Aspen Technology by 1.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after buying an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Aspen Technology by 38.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after buying an additional 153,897 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 109,783 shares during the last quarter. Fiera Capital Corp boosted its stake in 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 acquiring an additional 12,500 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Aspen Technology by 52.9% during the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after purchasing an additional 101,586 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Down 2.5 %

AZPN stock opened at $234.73 on Friday. Aspen Technology has a 52 week low of $162.26 and a 52 week high of $244.85. The business has a fifty day simple moving average of $232.34 and a 200-day simple moving average of $212.23. The company has a market cap of $14.85 billion, a price-to-earnings ratio of -1,466.97, a PEG ratio of 2.81 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.49. The firm had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.87 EPS. As a group, analysts expect that Aspen Technology will post 6.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZPN has been the subject of several analyst reports. Piper Sandler upped their price objective on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Bank of America boosted their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Robert W. Baird lifted their price target on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $248.40.

Read Our Latest Report on AZPN

Aspen Technology Company Profile

(Get Free Report)

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.

Read More