Dynasty Wealth Management LLC Invests $323,000 in Aspen Technology, Inc. (NASDAQ:AZPN)

Dynasty Wealth Management LLC bought a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,513 shares of the technology company’s stock, valued at approximately $323,000.

A number of other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Aspen Technology by 561.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock valued at $48,000 after purchasing an additional 191 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Aspen Technology by 2.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock valued at $70,000 after purchasing an additional 735 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Aspen Technology in the fourth quarter valued at $73,000. UniSuper Management Pty Ltd increased its holdings in shares of Aspen Technology by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 400 shares of the technology company’s stock valued at $85,000 after purchasing an additional 200 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Aspen Technology by 36.0% in the first quarter. Covestor Ltd now owns 468 shares of the technology company’s stock valued at $100,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Berenberg Bank raised shares of Aspen Technology from a “hold” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $255.00 in a research report on Friday, May 17th. Robert W. Baird reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Aspen Technology in a research report on Friday, June 14th. Finally, William Blair raised shares of Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Aspen Technology has an average rating of “Moderate Buy” and a consensus target price of $219.50.

Aspen Technology Stock Down 1.0 %

Shares of AZPN opened at $187.95 on Thursday. Aspen Technology, Inc. has a 12-month low of $162.26 and a 12-month high of $224.77. The business’s fifty day moving average is $199.27 and its 200 day moving average is $199.85. The stock has a market cap of $11.90 billion, a P/E ratio of -427.15, a P/E/G ratio of 2.36 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.39. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The business had revenue of $278.11 million for the quarter, compared to analysts’ expectations of $251.65 million. On average, analysts expect that Aspen Technology, Inc. will post 5.52 EPS for the current year.

Aspen Technology Company 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.