Net Worth Advisory Group Grows Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Net Worth Advisory Group increased its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,197 shares of the technology company’s stock after buying an additional 41 shares during the quarter. Net Worth Advisory Group’s holdings in Aspen Technology were worth $1,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in 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 period. Raymond James Financial Inc. acquired a new stake in Aspen Technology in the fourth quarter valued at about $66,680,000. JPMorgan Chase & Co. lifted its position in Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after purchasing an additional 171,351 shares during the period. Amundi lifted its position in Aspen Technology by 345.7% in the fourth quarter. Amundi now owns 142,897 shares of the technology company’s stock valued at $35,874,000 after purchasing an additional 110,838 shares during the period. Finally, American Capital Management Inc. lifted its position in Aspen Technology by 116.9% in the third quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock valued at $46,635,000 after purchasing an additional 105,254 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $264.30 on Tuesday. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37. The company has a market capitalization of $16.73 billion, a P/E ratio of 3,304.16, a P/E/G ratio of 3.00 and a beta of 0.73. The business has a 50 day moving average price of $259.93 and a 200 day moving average price of $246.76.

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

Analyst Ratings Changes

A number of brokerages recently commented on AZPN. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler lifted their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Robert W. Baird reiterated a “neutral” rating and set a $265.00 price target (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. StockNews.com began coverage on shares of Aspen Technology in a research report on Thursday, March 6th. They set a “hold” rating for the company. Finally, Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $272.00.

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.