Mitsubishi UFJ Asset Management Co., Ltd. increased its stake in Aspen Technology, Inc. (NASDAQ:AZPN – free report ) by 46.7% during the first quarter, according to the latest Form 13F filed with the U.S. Securities and Exchange Commission (SEC). The institutional investor now holds 17,060 shares of the technology company’s stock, acquiring an additional 5,427 shares during the period. Mitsubishi UFJ Asset Management Co., Ltd.’s holdings of Aspen Technology stock were worth $3,639,000 at the end of the most recent reporting period.
A number of other hedge funds also modified their holdings in AZPN. Raymond James Financial Services Advisors increased its holdings in Aspen Technology by 3.5% in the fourth quarter. Raymond James Financial Services Advisors now owns 1,864 shares of the technology company’s stock, valued at $410,000, after purchasing an additional 63 shares during the period. Portside Wealth Group LLC increased its holdings in Aspen Technology by 26.5% in the fourth quarter. Portside Wealth Group LLC now owns 3,493 shares of the technology company’s stock, valued at $769,000, after acquiring an additional 732 shares during the period. Pacer Advisors increased its holdings in Aspen Technology by 139.6% in the fourth quarter. Pacer Advisors Inc. now owns 7,474 shares of the technology company’s stock valued at $1,645,000 after acquiring an additional 4,355 shares in the last quarter. Austin Private Wealth LLC acquired a new stake in Aspen Technology in the fourth quarter valued at approximately $202,000. Finally, Snider Financial Group increased its holdings in Aspen Technology by 5.2% in the fourth quarter. Snider Financial Group now owns 16,502 shares of the technology company’s stock valued at $3,633,000 after acquiring an additional 822 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.
Aspen Technology shares fell 0.6%
NASDAQ:AZPN shares opened trading at $191.71 on Friday. The company’s 50-day moving average is $203.63 and its 200-day moving average is $200.80. The company has a market cap of $12.14 billion, a P/E ratio of -435.69, a price-to-earnings growth ratio of 2.38 and a beta of 0.73. Aspen Technology, Inc.’s low over the past 12 months is $162.26 and its high over the past 12 months is $224.77.
Aspen Technology (NASDAQ:AZPN – get free report ) announced its quarterly earnings on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, beating the consensus estimate 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’s revenue for the quarter was $278.11 million, beating analyst expectations of $251.65 million. Equity research analysts expect Aspen Technology, Inc. to post earnings per share of $5.52 for the year.
Analyst Rating Changes
Several research firms have recently commented on AZPN. William Blair upgraded shares of Aspen Technology to a “hold” rating in a report on Tuesday, May 7th. Piper Sandler lowered their price target on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and increased their price target on the stock from $185.00 to $255.00 in a research note on Friday, May 17th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $230.00 price target on Aspen Technology in a research report on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating, according to data from MarketBeat.com. The company’s current consensus rating is a “hold” and the average price target is $219.50, according to MarketBeat.com data.
Read our latest analysis on Aspen Technology
Aspen Technology Profile
(Free report)
Aspen Technology, Inc provides industrial software focused on helping customers in asset-intensive industries around the world. The company’s solutions address complex environments where optimizing the design, operation and maintenance lifecycle of assets is critical. The company’s software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management and industrial data management.
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