AlphaQuest LLC Grows Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

AlphaQuest LLC lifted its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 10,166.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,057 shares of the technology company’s stock after purchasing an additional 5,998 shares during the period. AlphaQuest LLC’s holdings in Aspen Technology were worth $1,512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AZPN. SBI Securities Co. Ltd. purchased a new position in Aspen Technology in the fourth quarter valued at $26,000. Jones Financial Companies Lllp boosted its holdings in Aspen Technology by 965.0% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after purchasing an additional 193 shares during the period. Blue Trust Inc. boosted its holdings in Aspen Technology by 5,700.0% in the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after purchasing an additional 228 shares during the period. GAMMA Investing LLC boosted its holdings in Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Aspen Technology by 126.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock valued at $68,000 after purchasing an additional 151 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

AZPN opened at $265.25 on Monday. The business’s 50-day simple moving average is $259.62 and its 200-day simple moving average is $246.43. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $277.37. The stock has a market capitalization of $16.79 billion, a P/E ratio of 3,316.04, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. On average, equities research analysts forecast that Aspen Technology, Inc. will post 6.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 target price (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a research note on Thursday. They issued a “hold” rating on the stock. 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. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $272.00.

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.