New Age Alpha Advisors LLC Acquires Shares of 2,748 Aspen Technology, Inc. (NASDAQ:AZPN)

New Age Alpha Advisors LLC bought a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,748 shares of the technology company’s stock, valued at approximately $686,000.

Several other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in Aspen Technology by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock worth $42,524,000 after buying an additional 2,518 shares during the period. JPMorgan Chase & Co. lifted its stake in Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after acquiring an additional 171,351 shares during the period. Citigroup Inc. lifted its stake in Aspen Technology by 15.9% in the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock worth $5,550,000 after acquiring an additional 3,186 shares during the period. Assenagon Asset Management S.A. increased its position in Aspen Technology by 37,990.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after purchasing an additional 632,545 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in Aspen Technology in the 4th quarter worth $216,000. 45.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AZPN shares. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a research note on Sunday. They issued a “hold” rating for the company. Piper Sandler lifted their price target on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $272.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $264.33 on Tuesday. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37. The business’s fifty day simple moving average is $264.01 and its two-hundred day simple moving average is $250.93. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 3,304.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73.

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

About Aspen Technology

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.