Brown Brothers Harriman & Co. Buys 19,637 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Brown Brothers Harriman & Co. grew its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 18.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,956 shares of the technology company’s stock after purchasing an additional 19,637 shares during the quarter. Brown Brothers Harriman & Co. owned approximately 0.20% of Aspen Technology worth $25,217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Aspen Technology by 38.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after acquiring an additional 153,897 shares during the last quarter. Norges Bank acquired a new position in shares of Aspen Technology during the 4th quarter worth about $31,630,000. Clean Energy Transition LLP bought a new stake in Aspen Technology during the 1st quarter valued at approximately $22,110,000. Capital Research Global Investors grew its holdings in Aspen Technology by 52.9% in the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after buying an additional 101,586 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Aspen Technology by 602.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 74,199 shares of the technology company’s stock worth $16,335,000 after buying an additional 63,632 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Aspen Technology

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

Analyst Ratings Changes

Separately, Robert W. Baird raised their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.50.

Aspen Technology Stock Up 0.0 %

Aspen Technology stock opened at $225.21 on Monday. The business has a 50 day moving average price of $206.51 and a two-hundred day moving average price of $204.97. Aspen Technology, Inc. has a 12 month low of $162.26 and a 12 month high of $235.10. The stock has a market cap of $14.26 billion, a price-to-earnings ratio of -511.84, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.49. The business had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. Aspen Technology’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 earnings per share. On average, analysts expect that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

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.