Xponance Inc. Grows Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Xponance Inc. boosted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.1% during the fourth quarter, Holdings Channel reports. The firm owned 4,750 shares of the technology company’s stock after buying an additional 275 shares during the quarter. Xponance Inc.’s holdings in Aspen Technology were worth $1,186,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Aspen Technology by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock worth $42,524,000 after buying an additional 2,518 shares during the last quarter. JPMorgan Chase & Co. raised its position in Aspen Technology by 89.2% during the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after acquiring an additional 171,351 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Aspen Technology by 31.0% during the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock worth $39,728,000 after acquiring an additional 39,396 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Aspen Technology by 15.9% in the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock valued at $5,550,000 after purchasing an additional 3,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after purchasing an additional 632,545 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

NASDAQ AZPN opened at $264.33 on Monday. The company has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37. The company has a 50-day moving average of $262.36 and a 200-day moving average of $249.32.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. As a group, equities research analysts anticipate that Aspen Technology, Inc. will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

AZPN has been the topic of a number of recent research reports. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $265.00 to $315.00 in a research note on Monday, February 10th. StockNews.com began coverage on Aspen Technology in a research report on Saturday. They issued a “hold” rating on the stock. Piper Sandler lifted their price objective on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Robert W. Baird restated a “neutral” rating and issued a $265.00 target price (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Finally, Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $272.00.

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.