State of Michigan Retirement System Has $1.88 Million Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

State of Michigan Retirement System increased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,807 shares of the technology company’s stock after purchasing an additional 200 shares during the period. State of Michigan Retirement System’s holdings in Aspen Technology were worth $1,878,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its position in Aspen Technology by 2.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock worth $70,000 after purchasing an additional 735 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Aspen Technology during the fourth quarter worth approximately $73,000. Steph & Co. increased its holdings in shares of Aspen Technology by 87.9% during the first quarter. Steph & Co. now owns 791 shares of the technology company’s stock worth $169,000 after buying an additional 370 shares in the last quarter. Eagle Bay Advisors LLC increased its holdings in shares of Aspen Technology by 12.8% during the fourth quarter. Eagle Bay Advisors LLC now owns 902 shares of the technology company’s stock worth $199,000 after buying an additional 102 shares in the last quarter. Finally, Austin Private Wealth LLC acquired a new stake in shares of Aspen Technology during the fourth quarter worth approximately $202,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Ratings Changes

AZPN has been the subject of several recent analyst reports. William Blair raised shares of Aspen Technology to a “hold” rating in a report on Tuesday, May 7th. Piper Sandler dropped their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Berenberg Bank raised shares of Aspen Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $255.00 in a report on Friday, May 17th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Aspen Technology in a report on Friday, June 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $219.50.

Aspen Technology Price Performance

AZPN opened at $199.53 on Friday. Aspen Technology, Inc. has a one year low of $162.26 and a one year high of $224.77. The company’s 50 day simple moving average is $204.68 and its 200-day simple moving average is $202.59. The stock has a market capitalization of $12.64 billion, a P/E ratio of -453.47, a price-to-earnings-growth ratio of 2.42 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.15 by $0.39. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. The business had revenue of $278.11 million for the quarter, compared to analysts’ expectations of $251.65 million. As a group, analysts anticipate that Aspen Technology, Inc. will post 5.52 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.