Quantinno Capital Management LP Purchases Shares of 1,579 Aspen Technology, Inc. (NASDAQ:AZPN)

Quantinno Capital Management LP acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,579 shares of the technology company’s stock, valued at approximately $377,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Aspen Technology in the 3rd quarter worth about $290,880,000. Dimensional Fund Advisors LP increased its position in shares of Aspen Technology by 26.5% in the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after buying an additional 109,783 shares in the last quarter. American Capital Management Inc. raised its stake in shares of Aspen Technology by 116.9% during the 3rd quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock worth $46,635,000 after buying an additional 105,254 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Aspen Technology during the 3rd quarter valued at approximately $19,928,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Aspen Technology by 1.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after buying an additional 65,143 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZPN. Piper Sandler upped their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Loop Capital upped their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. StockNews.com assumed coverage on Aspen Technology in a report on Monday. They issued a “hold” rating on the stock. Bank of America increased their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Robert W. Baird boosted their price target on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Four research 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 stock currently has a consensus rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Trading Down 0.9 %

Shares of NASDAQ AZPN opened at $248.80 on Monday. The stock has a fifty day simple moving average of $243.53 and a 200-day simple moving average of $221.36. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $254.44. The stock has a market capitalization of $15.74 billion, a PE ratio of -428.97, a PEG ratio of 2.89 and a beta of 0.76.

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