Paloma Partners Management Co Takes Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Paloma Partners Management Co purchased a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 46,967 shares of the technology company’s stock, valued at approximately $11,217,000.

Other large investors also recently bought and sold shares of the company. Tortoise Investment Management LLC raised its holdings in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Aspen Technology by 2,600.0% in the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after buying an additional 130 shares in the last quarter. Crewe Advisors LLC raised its stake in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC raised its stake in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Aspen Technology during the second quarter valued at $37,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

Shares of AZPN opened at $250.00 on Monday. The firm has a market cap of $15.81 billion, a P/E ratio of -431.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $254.04. The company’s 50-day moving average price is $240.40 and its 200 day moving average price is $219.14.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was down 13.4% on a year-over-year basis. Equities research analysts forecast that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. StockNews.com initiated coverage on shares of Aspen Technology in a report on Saturday. They set a “hold” rating on the stock. Bank of America raised their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Piper Sandler raised their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Loop Capital increased their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Aspen Technology presently has a consensus rating of “Hold” and a consensus target price of $253.00.

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.