Kolinsky Wealth Management LLC Raises Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Kolinsky Wealth Management LLC lifted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329 shares of the technology company’s stock after purchasing an additional 60 shares during the period. Kolinsky Wealth Management LLC’s holdings in Aspen Technology were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AZPN. B. Riley Wealth Advisors Inc. increased its stake in shares of Aspen Technology by 89.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock worth $432,000 after purchasing an additional 998 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Aspen Technology by 53.4% during the 1st quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock worth $361,000 after purchasing an additional 589 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Aspen Technology during the 1st quarter worth approximately $262,000. DekaBank Deutsche Girozentrale increased its stake in shares of Aspen Technology by 1,034.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after purchasing an additional 35,056 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the period. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Price Performance

Shares of AZPN opened at $250.00 on Friday. The firm has a market cap of $15.81 billion, a PE ratio of -431.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. The company’s fifty day moving average is $240.40 and its two-hundred day moving average is $219.08. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.04.

Aspen Technology (NASDAQ:AZPN) last announced 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 company had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. As a group, equities research analysts anticipate that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZPN has been the subject of several recent analyst reports. Bank of America lifted their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Loop Capital lifted 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. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Saturday. They issued a “hold” rating for the company. Piper Sandler lifted their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $253.00.

About Aspen Technology

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.