Assenagon Asset Management S.A. Grows Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Assenagon Asset Management S.A. boosted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,536 shares of the technology company’s stock after acquiring an additional 60 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Aspen Technology were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Mather Group LLC. grew its stake in shares of Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. GAMMA Investing LLC grew its position in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Aspen Technology by 561.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock valued at $48,000 after buying an additional 191 shares during the period. V Square Quantitative Management LLC purchased a new stake in Aspen Technology during the second quarter valued at approximately $63,000. Finally, Principal Securities Inc. bought a new position in Aspen Technology in the fourth quarter worth approximately $73,000. Institutional investors own 45.66% of the company’s stock.

Analyst Upgrades and Downgrades

AZPN has been the topic of a number of recent research reports. Robert W. Baird raised their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Piper Sandler lowered their price objective on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $255.00 in a research note on Friday, May 17th. Finally, William Blair upgraded shares of Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Aspen Technology presently has an average rating of “Moderate Buy” and an average target price of $224.50.

Aspen Technology Stock Down 0.7 %

NASDAQ AZPN opened at $216.23 on Friday. Aspen Technology, Inc. has a twelve month low of $162.26 and a twelve month high of $224.06. The business has a 50-day moving average price of $197.92 and a 200-day moving average price of $200.51. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of -491.43, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The company had revenue of $342.91 million for the quarter, compared to analysts’ expectations of $319.10 million. During the same period in the previous year, the firm earned $1.87 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Aspen Technology, Inc. will post 5.52 EPS for the current fiscal year.

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.