Tortoise Investment Management LLC Increases Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Tortoise Investment Management LLC lifted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 75.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 255 shares of the technology company’s stock after acquiring an additional 110 shares during the period. Tortoise Investment Management LLC’s holdings in Aspen Technology were worth $64,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bailard Inc. raised its position in shares of Aspen Technology by 0.9% during the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock worth $1,134,000 after acquiring an additional 41 shares in the last quarter. Commerce Bank increased its position in Aspen Technology by 3.1% during the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after buying an additional 47 shares during the period. Heritage Family Offices LLP increased its position in Aspen Technology by 2.8% during the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after buying an additional 47 shares during the period. GAMMA Investing LLC increased its position in Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after buying an additional 58 shares during the period. Finally, Kolinsky Wealth Management LLC increased its position in Aspen Technology by 4.7% during the third quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock worth $317,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

Aspen Technology stock opened at $264.30 on Tuesday. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $277.37. The company has a market cap of $16.73 billion, a PE ratio of 3,304.16, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The stock’s 50 day moving average price is $259.93 and its 200 day moving average price is $246.76.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating 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 anticipate that Aspen Technology, Inc. will post 6.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com assumed coverage on Aspen Technology in a research report on Thursday, March 6th. They set a “hold” rating on the stock. Piper Sandler lifted their price target on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and lifted their target price for the company from $265.00 to $315.00 in a research note on Monday, February 10th. 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 research note on Monday, January 27th. Finally, Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Six 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 has an average rating of “Hold” and a consensus target price of $272.00.

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.