Aspen Technology, Inc. (NASDAQ:AZPN) Shares Purchased by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,964 shares of the technology company’s stock after acquiring an additional 179 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Aspen Technology were worth $740,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AZPN. Assenagon Asset Management S.A. raised its stake in shares of Aspen Technology by 37,990.7% during 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after buying an additional 28,820 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Aspen Technology by 26.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after buying an additional 109,783 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Aspen Technology by 89.2% in the 3rd 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 period. Finally, Raymond James & Associates boosted its holdings in shares of Aspen Technology by 5.9% in the third quarter. Raymond James & Associates now owns 281,961 shares of the technology company’s stock valued at $67,338,000 after acquiring an additional 15,744 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler boosted their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird upped their price objective on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, StockNews.com began coverage on Aspen Technology in a report on Friday. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $258.00.

Aspen Technology Stock Performance

Shares of NASDAQ:AZPN opened at $251.52 on Tuesday. The company has a market capitalization of $15.91 billion, a PE ratio of -433.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.76. The stock has a fifty day moving average of $249.82 and a 200-day moving average of $230.50. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $254.44.

Aspen Technology (NASDAQ:AZPN) last released its quarterly 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 company had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. As a group, research analysts forecast that Aspen Technology, Inc. will post 6.68 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.