Alaska Permanent Fund Corp Invests $2.96 Million in Aspen Technology, Inc. (NASDAQ:AZPN)

Alaska Permanent Fund Corp acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 13,434 shares of the technology company’s stock, valued at approximately $2,957,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC grew its position in shares of Aspen Technology by 43.9% during the third quarter. CWM LLC now owns 226 shares of the technology company’s stock worth $46,000 after buying an additional 69 shares in the last quarter. Fifth Third Bancorp lifted its stake in Aspen Technology by 94.4% during the third quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock worth $71,000 after purchasing an additional 170 shares during the last quarter. Signaturefd LLC lifted its stake in Aspen Technology by 152.3% during the third quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock worth $102,000 after purchasing an additional 300 shares during the last quarter. Steph & Co. lifted its stake in Aspen Technology by 49.2% during the third quarter. Steph & Co. now owns 861 shares of the technology company’s stock worth $176,000 after purchasing an additional 284 shares during the last quarter. Finally, Austin Private Wealth LLC purchased a new stake in Aspen Technology during the fourth quarter worth approximately $202,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Stock Performance

NASDAQ AZPN traded down $1.08 on Wednesday, reaching $197.11. The stock had a trading volume of 97,469 shares, compared to its average volume of 196,553. Aspen Technology, Inc. has a 12-month low of $161.32 and a 12-month high of $235.45. The business’s 50-day moving average price is $199.22 and its 200 day moving average price is $196.39. The stock has a market cap of $12.53 billion, a P/E ratio of -146.01, a price-to-earnings-growth ratio of 1.99 and a beta of 0.77.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. The firm had revenue of $257.16 million during the quarter, compared to analysts’ expectations of $259.70 million. On average, sell-side analysts predict that Aspen Technology, Inc. will post 5.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AZPN has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating and set a $196.00 target price on shares of Aspen Technology in a research note on Wednesday, February 7th. StockNews.com upgraded Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $210.25.

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.