898 Shares in Aspen Technology, Inc. (NASDAQ:AZPN) Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario bought a new position in Aspen Technology, Inc. (NASDAQ:AZPN) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 898 shares of the technology company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZPN. Tortoise Investment Management LLC raised its holdings in shares of Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC lifted its position in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares during the period. Quent Capital LLC boosted its stake in shares of Aspen Technology by 364.9% during the third quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after purchasing an additional 135 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the period. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Up 0.6 %

AZPN opened at $251.43 on Monday. The firm’s 50-day moving average price is $242.00 and its 200-day moving average price is $220.19. The company has a market cap of $15.90 billion, a P/E ratio of -433.50, a price-to-earnings-growth ratio of 2.86 and a beta of 0.76. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.04.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same quarter in the previous year, the company posted $0.96 EPS. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. On average, research analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on AZPN shares. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital raised their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Bank of America increased their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler lifted their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com started coverage on shares of Aspen Technology in a research note on Sunday. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $253.00.

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.