Paloma Partners Management Co Buys Shares of 46,967 Aspen Technology, Inc. (NASDAQ:AZPN)

Paloma Partners Management Co bought a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,967 shares of the technology company’s stock, valued at approximately $11,217,000. Paloma Partners Management Co owned about 0.07% of Aspen Technology as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its stake in Aspen Technology by 1,034.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after buying an additional 35,056 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new stake in Aspen Technology during the 2nd quarter worth about $3,042,000. Brown Brothers Harriman & Co. raised its holdings in Aspen Technology by 31.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock worth $39,728,000 after purchasing an additional 39,396 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Aspen Technology by 89.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock worth $432,000 after purchasing an additional 998 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Aspen Technology by 5.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after acquiring an additional 28,820 shares during the last quarter. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $250.00 on Monday. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.04. The company has a 50-day simple moving average of $240.40 and a two-hundred day simple moving average of $219.14. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of -431.03, a PEG ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released 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 during the quarter, compared to the consensus estimate of $265.04 million. During the same period last year, the business posted $0.96 earnings per share. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. On average, sell-side analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Analyst Ratings Changes

AZPN has been the subject of a number of research reports. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird increased 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 increased their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Bank of America raised their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler raised their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $253.00.

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.