Independent Franchise Partners LLP Takes $56.98 Million Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Independent Franchise Partners LLP purchased a new position in Aspen Technology, Inc. (NASDAQ:AZPN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 339,968 shares of the technology company’s stock, valued at approximately $56,982,000. Aspen Technology accounts for about 0.5% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 24th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Achmea Investment Management B.V. bought a new stake in Aspen Technology during the second quarter worth about $26,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Aspen Technology in the first quarter worth $29,000. Compass Wealth Management LLC bought a new position in shares of Aspen Technology during the fourth quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Aspen Technology by 105.7% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 179 shares of the technology company’s stock worth $30,000 after purchasing an additional 92 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its stake in Aspen Technology by 88.0% during the 1st quarter. Belpointe Asset Management LLC now owns 141 shares of the technology company’s stock valued at $32,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 43.94% of the company’s stock.

Analyst Ratings Changes

AZPN has been the subject of a number of recent analyst reports. Robert W. Baird upgraded shares of Aspen Technology from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $194.00 to $202.00 in a report on Tuesday, November 14th. Piper Sandler reissued a “neutral” rating and set a $180.00 price target on shares of Aspen Technology in a report on Tuesday, November 7th. StockNews.com upgraded Aspen Technology from a “sell” rating to a “hold” rating in a research report on Saturday. KeyCorp reiterated a “sector weight” rating on shares of Aspen Technology in a research report on Wednesday, July 26th. Finally, Loop Capital lifted their target price on Aspen Technology from $170.00 to $180.00 in a research report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $200.40.

Aspen Technology Trading Up 1.8 %

AZPN traded up $3.22 during trading hours on Monday, hitting $186.88. The company’s stock had a trading volume of 95,924 shares, compared to its average volume of 213,665. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of -90.47, a P/E/G ratio of 1.81 and a beta of 0.80. The business’s 50-day moving average price is $189.73 and its 200-day moving average price is $180.90. Aspen Technology, Inc. has a 12 month low of $161.32 and a 12 month high of $248.35.

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.