640 Shares in Aspen Technology, Inc. (NASDAQ:AZPN) Bought by R Squared Ltd

R Squared Ltd purchased a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 640 shares of the technology company’s stock, valued at approximately $160,000.

A number of other institutional investors have also recently made changes to their positions in AZPN. JPMorgan Chase & Co. lifted its stake in shares of Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after acquiring an additional 171,351 shares during the period. Brown Brothers Harriman & Co. lifted its position in shares of Aspen Technology by 31.0% in 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 period. Charles Schwab Investment Management Inc. boosted its stake in shares of Aspen Technology by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock valued at $40,082,000 after purchasing an additional 10,327 shares during the last quarter. Citigroup Inc. increased its position in shares of Aspen Technology by 15.9% during the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock worth $5,550,000 after buying an additional 3,186 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Aspen Technology by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock worth $139,156,000 after buying 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 Aspen Technology stock opened at $263.79 on Thursday. The stock has a market capitalization of $16.68 billion, a PE ratio of -454.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.76. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $264.43. The stock has a 50 day moving average price of $251.65 and a two-hundred day moving average price of $233.48.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The firm had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. Research analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler raised their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, StockNews.com started coverage on shares of Aspen Technology in a research report on Saturday, January 25th. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Aspen Technology has an average rating of “Hold” and an average target price of $261.00.

About Aspen Technology

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.