Mitchell & Pahl Private Wealth LLC Boosts Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,964 shares of the technology company’s stock after acquiring an additional 179 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Aspen Technology were worth $740,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AZPN. Assenagon Asset Management S.A. raised its holdings in Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after acquiring an additional 632,545 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after purchasing an additional 171,351 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Aspen Technology in the 3rd quarter worth about $290,880,000. Dimensional Fund Advisors LP raised its stake in shares of Aspen Technology by 26.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after purchasing an additional 109,783 shares in the last quarter. Finally, American Capital Management Inc. lifted its position in shares of Aspen Technology by 116.9% during the third quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock worth $46,635,000 after purchasing an additional 105,254 shares during the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Trading Up 0.2 %

Shares of NASDAQ AZPN opened at $251.52 on Tuesday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $254.44. The company has a market cap of $15.91 billion, a price-to-earnings ratio of -433.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.76. The stock’s 50 day simple moving average is $249.82 and its 200 day simple moving average is $230.50.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 earnings per share. As a group, equities analysts forecast that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AZPN has been the subject of several research analyst reports. Robert W. Baird boosted their price objective on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Piper Sandler boosted their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, StockNews.com started coverage on shares of Aspen Technology in a report on Friday. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $258.00.

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.