Capital Research Global Investors Raises Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Capital Research Global Investors increased its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 52.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 293,778 shares of the technology company’s stock after purchasing an additional 101,586 shares during the period. Capital Research Global Investors owned 0.46% of Aspen Technology worth $62,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of Aspen Technology by 561.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock worth $48,000 after acquiring an additional 191 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Aspen Technology by 2.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock worth $70,000 after acquiring an additional 735 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Aspen Technology in the fourth quarter worth $73,000. UniSuper Management Pty Ltd grew its stake in shares of Aspen Technology by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 400 shares of the technology company’s stock worth $85,000 after acquiring an additional 200 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Aspen Technology by 36.0% in the first quarter. Covestor Ltd now owns 468 shares of the technology company’s stock worth $100,000 after acquiring an additional 124 shares during the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Trading Up 1.1 %

AZPN stock traded up $2.11 during trading on Friday, reaching $192.94. The stock had a trading volume of 99,314 shares, compared to its average volume of 166,752. Aspen Technology, Inc. has a 52 week low of $162.26 and a 52 week high of $224.77. The stock’s 50 day moving average is $201.19 and its two-hundred day moving average is $200.11. The firm has a market cap of $12.22 billion, a PE ratio of -438.49, a PEG ratio of 2.37 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.39. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The company had revenue of $278.11 million for the quarter, compared to the consensus estimate of $251.65 million. On average, research analysts anticipate that Aspen Technology, Inc. will post 5.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AZPN. Piper Sandler cut their target price on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Aspen Technology in a research report on Friday, June 14th. William Blair raised Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Finally, Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $185.00 to $255.00 in a research report on Friday, May 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $219.50.

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.