Dynamic Technology Lab Private Ltd Takes Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Dynamic Technology Lab Private Ltd acquired a new position in Aspen Technology, Inc. (NASDAQ:AZPN) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,987 shares of the technology company’s stock, valued at approximately $713,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new stake in shares of Aspen Technology during the first quarter worth approximately $357,000. B. Riley Wealth Advisors Inc. raised its position in shares of Aspen Technology by 89.4% during 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. Tidal Investments LLC lifted its stake in shares of Aspen Technology by 53.4% in the 1st quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock valued at $361,000 after purchasing an additional 589 shares during the period. Cetera Advisors LLC bought a new position in shares of Aspen Technology in the 1st quarter worth $262,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Aspen Technology by 1,034.4% during the first 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 during the period. 45.66% of the stock is owned by institutional investors.

Aspen Technology Stock Down 0.2 %

Shares of AZPN stock opened at $250.00 on Friday. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of -431.03, a P/E/G ratio of 2.86 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 firm has a fifty day moving average of $240.11 and a 200-day moving average of $218.78.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. On average, equities analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AZPN. Bank of America raised their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Loop Capital boosted 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. Piper Sandler upped their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com initiated coverage on shares of Aspen Technology in a research report on Friday, November 22nd. They set a “hold” rating on the stock. Finally, Robert W. Baird upped their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $253.00.

Aspen Technology 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.