Daiwa Securities Group Inc. Buys 434 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Daiwa Securities Group Inc. grew its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 4.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,768 shares of the technology company’s stock after purchasing an additional 434 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Aspen Technology were worth $2,332,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in shares of Aspen Technology by 1,034.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after purchasing an additional 35,056 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in shares of Aspen Technology during the 2nd quarter valued at about $3,042,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Aspen Technology by 89.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock valued at $432,000 after acquiring an additional 998 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Aspen Technology by 5.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after acquiring an additional 28,820 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Aspen Technology by 18.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 126,956 shares of the technology company’s stock valued at $25,217,000 after acquiring an additional 19,637 shares during the last quarter. 45.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AZPN has been the subject of several analyst reports. Robert W. Baird raised their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Loop Capital lifted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America raised their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Piper Sandler lifted their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Trading Down 0.2 %

Shares of NASDAQ AZPN opened at $250.00 on Friday. The stock has a market cap of $15.81 billion, a PE ratio of -431.03, a P/E/G ratio of 2.86 and a beta of 0.76. The company has a 50-day moving average of $240.11 and a 200 day moving average of $218.78. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $254.04.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate 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 company had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. The business’s revenue was down 13.4% compared to the same quarter last year. On average, sell-side analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

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.