Citigroup Inc. Has $5.55 Million Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Citigroup Inc. boosted its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 15.9% in the third quarter, HoldingsChannel reports. The firm owned 23,240 shares of the technology company’s stock after buying an additional 3,186 shares during the period. Citigroup Inc.’s holdings in Aspen Technology were worth $5,550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZPN. B. Riley Wealth Advisors Inc. grew its stake in shares of Aspen Technology by 89.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock valued at $432,000 after buying an additional 998 shares during the period. Tidal Investments LLC boosted its holdings in Aspen Technology by 53.4% in the first quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock worth $361,000 after acquiring an additional 589 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Aspen Technology during the first quarter valued at approximately $262,000. DekaBank Deutsche Girozentrale raised its position 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. Finally, GAMMA Investing LLC lifted its holdings in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. 45.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of recent research reports. Robert W. Baird boosted their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America raised their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. StockNews.com initiated coverage on Aspen Technology in a report on Saturday. They set a “hold” rating for the company. Finally, Piper Sandler raised their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $250.00 on Monday. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.04. The firm’s 50-day simple moving average is $240.40 and its 200 day simple moving average is $219.14. The stock has a market cap of $15.81 billion, a PE ratio of -431.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76.

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

Aspen Technology Company 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.