Dai ichi Life Insurance Company Ltd Takes Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Dai ichi Life Insurance Company Ltd purchased a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,256 shares of the technology company’s stock, valued at approximately $539,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its stake 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 worth $25,000 after acquiring an additional 56 shares during the last quarter. Mather Group LLC. raised its position in Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after purchasing an additional 130 shares during the last quarter. Crewe Advisors LLC lifted its holdings in 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 buying an additional 119 shares in the last quarter. GAMMA Investing LLC boosted its position in Aspen Technology by 65.7% in the 2nd 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 last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Aspen Technology in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Performance

AZPN opened at $250.00 on Friday. The firm’s fifty day moving average is $240.11 and its two-hundred day moving average is $218.78. The firm has a market cap of $15.81 billion, a PE ratio of -431.03, a price-to-earnings-growth ratio of 2.86 and a beta of 0.76. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve 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 EPS 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 for the quarter, compared to analyst estimates of $265.04 million. During the same period in the previous year, the business posted $0.96 EPS. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. Equities analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AZPN. Robert W. Baird upped their price target on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Loop Capital raised their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. StockNews.com assumed coverage on shares of Aspen Technology in a research note on Friday, November 22nd. They set a “hold” rating for the company. Bank of America raised their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $253.00.

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.