CIBC Asset Management Inc Acquires 187 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

CIBC Asset Management Inc lifted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 9.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,219 shares of the technology company’s stock after purchasing an additional 187 shares during the period. CIBC Asset Management Inc’s holdings in Aspen Technology were worth $554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Creative Planning raised its holdings in Aspen Technology by 34.1% in the third quarter. Creative Planning now owns 1,835 shares of the technology company’s stock worth $438,000 after purchasing an additional 467 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Aspen Technology by 6.5% in the third quarter. IFM Investors Pty Ltd now owns 6,165 shares of the technology company’s stock worth $1,472,000 after purchasing an additional 377 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Aspen Technology by 8.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,665 shares of the technology company’s stock worth $398,000 after purchasing an additional 129 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Aspen Technology by 11.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,312 shares of the technology company’s stock worth $313,000 after purchasing an additional 133 shares in the last quarter. Finally, Boston Trust Walden Corp raised its holdings in Aspen Technology by 5.3% in the third quarter. Boston Trust Walden Corp now owns 22,852 shares of the technology company’s stock worth $5,458,000 after purchasing an additional 1,143 shares in the last quarter. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Trading Down 0.0 %

NASDAQ AZPN opened at $263.90 on Friday. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37. The stock has a market cap of $16.71 billion, a P/E ratio of 3,299.16, a P/E/G ratio of 3.01 and a beta of 0.76. The stock’s fifty day moving average price is $256.70 and its 200-day moving average price is $242.53.

Aspen Technology (NASDAQ:AZPN) last released 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 return on equity of 3.17% and a net margin of 0.54%. As a group, analysts forecast that Aspen Technology, Inc. will post 6.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of research reports. Piper Sandler increased their price objective on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a report on Tuesday, February 18th. They issued a “hold” rating for the company. 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. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Baird R W cut 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $272.00.

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.