Otter Creek Advisors LLC Sells 20,493 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Otter Creek Advisors LLC decreased its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 91.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,012 shares of the technology company’s stock after selling 20,493 shares during the period. Otter Creek Advisors LLC’s holdings in Aspen Technology were worth $502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Commerce Bank lifted its stake in Aspen Technology by 3.1% in the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after purchasing an additional 47 shares during the last quarter. Heritage Family Offices LLP raised its stake in Aspen Technology by 2.8% in the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after acquiring an additional 47 shares during the period. US Bancorp DE lifted its holdings in Aspen Technology by 0.4% during the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after purchasing an additional 50 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Aspen Technology by 1.8% during the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock worth $736,000 after purchasing an additional 55 shares during the period. Finally, GAMMA Investing LLC boosted its position in Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after purchasing an additional 58 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Trading Down 0.1 %

Shares of AZPN opened at $263.59 on Thursday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The company has a market cap of $16.69 billion, a PE ratio of 3,295.29, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. The stock has a 50-day moving average price of $257.24 and a 200-day moving average price of $243.54.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. As a group, analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AZPN. Piper Sandler upped their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. StockNews.com began coverage on Aspen Technology in a research report on Wednesday. They issued a “hold” rating for the company. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $265.00 price target (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $272.00.

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.