Aspen Technology, Inc. (NASDAQ:AZPN) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC increased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,565 shares of the technology company’s stock after acquiring an additional 110 shares during the quarter. Townsquare Capital LLC’s holdings in Aspen Technology were worth $6,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Aspen Technology by 38.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after acquiring an additional 153,897 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Aspen Technology in the third quarter valued at approximately $290,880,000. Dimensional Fund Advisors LP raised its stake in shares of Aspen Technology by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after purchasing an additional 109,783 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Aspen Technology by 1.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after purchasing an additional 65,143 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in Aspen Technology in the 3rd quarter valued at $14,322,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

AZPN opened at $250.00 on Friday. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $254.04. The stock has a market cap of $15.81 billion, a P/E ratio of -431.03, a P/E/G ratio of 2.86 and a beta of 0.76. The stock’s 50 day simple moving average is $240.11 and its 200 day simple moving average is $218.78.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results 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 negative net margin of 3.26% and a positive return on equity of 2.81%. The firm had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. During the same period last year, the company posted $0.96 EPS. The firm’s revenue for the quarter was down 13.4% on a year-over-year basis. Research analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AZPN. Piper Sandler upped 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. Robert W. Baird increased their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital increased their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, StockNews.com began coverage on Aspen Technology in a report on Friday, November 22nd. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Aspen Technology presently has a consensus 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.