Capstone Investment Advisors LLC Invests $977,000 in Aspen Technology, Inc. (NASDAQ:AZPN)

Capstone Investment Advisors LLC purchased a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,090 shares of the technology company’s stock, valued at approximately $977,000.

A number of other hedge funds have also modified their holdings of AZPN. Commerce Bank raised its stake in shares of Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after buying an additional 47 shares during the last quarter. US Bancorp DE grew its holdings in Aspen Technology by 0.4% during the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after acquiring an additional 50 shares during the period. LRI Investments LLC raised its position in Aspen Technology by 6.7% during the second quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock valued at $171,000 after acquiring an additional 54 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Aspen Technology by 1.8% in the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after acquiring an additional 55 shares during the period. Finally, Tortoise Investment Management LLC boosted its position in Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on AZPN. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America increased their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler lifted their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Loop Capital increased their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, StockNews.com started coverage on Aspen Technology in a research report on Friday, November 22nd. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $253.00.

Aspen Technology Stock Down 0.2 %

Shares of AZPN stock opened at $250.00 on Friday. The firm’s 50-day moving average is $240.11 and its two-hundred day moving average is $218.78. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $254.04.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company’s revenue was down 13.4% on a year-over-year basis. As a group, equities analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

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.