M&T Bank Corp Raises Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

M&T Bank Corp raised its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 158.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,910 shares of the technology company’s stock after acquiring an additional 7,298 shares during the quarter. M&T Bank Corp’s holdings in Aspen Technology were worth $2,622,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Aspen Technology by 94.4% during 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 grew its holdings in shares of Aspen Technology by 152.3% during the third quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock worth $102,000 after buying an additional 300 shares in the last quarter. Quantum Private Wealth LLC acquired a new stake in shares of Aspen Technology in the third quarter valued at about $202,000. Austin Private Wealth LLC purchased a new position in shares of Aspen Technology in the fourth quarter worth about $202,000. Finally, Wealth Alliance acquired a new position in Aspen Technology during the third quarter worth about $216,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $197.79 on Thursday. The company’s 50-day moving average is $202.53 and its two-hundred day moving average is $196.45. Aspen Technology, Inc. has a 1-year low of $161.32 and a 1-year high of $224.77. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of -146.51, a PEG ratio of 2.05 and a beta of 0.76.

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

Wall Street Analyst Weigh In

AZPN has been the subject of a number of recent research reports. StockNews.com upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Robert W. Baird cut their price target on Aspen Technology from $225.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Piper Sandler lowered their price objective on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aspen Technology has a consensus rating of “Hold” and a consensus price target of $201.00.

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.