Fmr LLC Has $1.04 Million Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Fmr LLC boosted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 51.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,369 shares of the technology company’s stock after purchasing an additional 1,480 shares during the quarter. Fmr LLC’s holdings in Aspen Technology were worth $1,043,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Aspen Technology during the third quarter worth $290,880,000. Dimensional Fund Advisors LP lifted its holdings in Aspen Technology by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after acquiring an additional 109,783 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Aspen Technology by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after acquiring an additional 65,143 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Aspen Technology in the third quarter worth about $14,322,000. Finally, Brown Brothers Harriman & Co. raised its position in shares of Aspen Technology by 31.0% during the third 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. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AZPN. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital upped their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. StockNews.com started coverage on shares of Aspen Technology in a research report on Monday. They set a “hold” rating for the company. Piper Sandler upped their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Bank of America increased their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Technology presently has an average rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Trading Up 1.0 %

Shares of AZPN opened at $251.24 on Tuesday. The stock has a market capitalization of $15.89 billion, a price-to-earnings ratio of -433.17, a PEG ratio of 2.89 and a beta of 0.76. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $254.44. The firm has a fifty day simple moving average of $243.53 and a 200 day simple moving average of $221.36.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). The business had revenue of $215.90 million for 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%. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period last year, the firm earned $0.96 earnings per share. As a group, research analysts predict that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

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.