International Assets Investment Management LLC Invests $31.31 Million in Aspen Technology, Inc. (NASDAQ:AZPN)

International Assets Investment Management LLC acquired a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 142,217 shares of the technology company’s stock, valued at approximately $31,309,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Aspen Technology by 43.9% during the third quarter. CWM LLC now owns 226 shares of the technology company’s stock valued at $46,000 after purchasing an additional 69 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Aspen Technology by 94.4% in the third quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock worth $71,000 after purchasing an additional 170 shares in the last quarter. Signaturefd LLC raised its position in shares of Aspen Technology by 152.3% during the 3rd quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock valued at $102,000 after purchasing an additional 300 shares during the period. Steph & Co. lifted its stake in shares of Aspen Technology by 49.2% during the 3rd quarter. Steph & Co. now owns 861 shares of the technology company’s stock valued at $176,000 after buying an additional 284 shares in the last quarter. Finally, Quantum Private Wealth LLC bought a new position in Aspen Technology in the 3rd quarter worth $202,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

AZPN stock opened at $202.10 on Friday. The company’s fifty day moving average price is $202.15 and its 200-day moving average price is $196.31. Aspen Technology, Inc. has a one year low of $161.32 and a one year high of $224.77. The company has a market capitalization of $12.84 billion, a PE ratio of -149.70, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. The company had revenue of $257.16 million during the quarter, compared to the consensus estimate of $259.70 million. On average, research analysts predict that Aspen Technology, Inc. will post 5.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AZPN shares. StockNews.com raised Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Piper Sandler reiterated a “neutral” rating and set a $196.00 target price on shares of Aspen Technology in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $203.67.

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.