Aspen Technology, Inc. (NASDAQ:AZPN) Shares Acquired by Net Worth Advisory Group

Net Worth Advisory Group increased its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,197 shares of the technology company’s stock after acquiring an additional 41 shares during the period. Net Worth Advisory Group’s holdings in Aspen Technology were worth $1,048,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in shares of 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. Sumitomo Mitsui Trust Group Inc. raised its stake in Aspen Technology by 5.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after buying an additional 28,820 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after buying an additional 171,351 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Aspen Technology in the fourth quarter valued at $66,680,000. Finally, American Capital Management Inc. raised its stake in Aspen Technology by 116.9% in the third quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock valued at $46,635,000 after buying an additional 105,254 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $264.30 on Tuesday. The stock’s 50-day moving average is $259.93 and its two-hundred day moving average is $246.76. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.16, a PEG ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AZPN. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler raised their price target on 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 note on Thursday, March 6th. They issued a “hold” rating on the stock. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $272.00.

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.