Dakota Wealth Management Buys New Shares in Aspen Technology, Inc. (NASDAQ:AZPN)

Dakota Wealth Management purchased a new position in Aspen Technology, Inc. (NASDAQ:AZPN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,051 shares of the technology company’s stock, valued at approximately $262,000.

Several other hedge funds have also bought and sold shares of the stock. Atomi Financial Group Inc. purchased a new stake in Aspen Technology in the 4th quarter worth $216,000. Mitchell & Pahl Private Wealth LLC raised its position in shares of Aspen Technology by 6.4% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 2,964 shares of the technology company’s stock valued at $740,000 after buying an additional 179 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Aspen Technology during the 4th quarter valued at about $424,000. Heritage Family Offices LLP raised its position in shares of Aspen Technology by 2.8% during the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after buying an additional 47 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Aspen Technology by 37,990.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after buying an additional 632,545 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Trading Down 0.2 %

Shares of NASDAQ:AZPN opened at $255.16 on Monday. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of -439.93, a PEG ratio of 2.94 and a beta of 0.76. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $259.85. The firm’s 50-day moving average is $250.59 and its 200 day moving average is $232.27.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million during the quarter, compared to the consensus estimate 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 revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 earnings per share. As a group, equities analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AZPN shares. Robert W. Baird upped their target price on shares of Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler upped their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com began coverage on shares of Aspen Technology in a report on Saturday. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Aspen Technology has a consensus rating of “Hold” and an average target price of $258.00.

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.