Synovus Financial Corp Purchases 1,396 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Synovus Financial Corp lifted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,487 shares of the technology company’s stock after purchasing an additional 1,396 shares during the period. Synovus Financial Corp’s holdings in Aspen Technology were worth $2,982,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AZPN. Tortoise Investment Management LLC raised its stake in 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 buying an additional 56 shares during the period. Crewe Advisors LLC increased its holdings in shares of Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after acquiring an additional 119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Aspen Technology in the 2nd quarter valued at $37,000. Quent Capital LLC lifted its holdings in Aspen Technology by 364.9% during the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after purchasing an additional 135 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Aspen Technology during the third quarter worth $48,000. 45.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AZPN. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital boosted their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com started coverage on Aspen Technology in a report on Sunday, December 8th. They set a “hold” rating for the company. Finally, Bank of America upped their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Stock Down 0.9 %

AZPN stock opened at $248.80 on Friday. The company has a market cap of $15.74 billion, a PE ratio of -428.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $254.44. The business has a 50-day simple moving average of $243.53 and a 200 day simple moving average of $221.30.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, analysts anticipate 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.