Aspen Technology, Inc. (NASDAQ:AZPN) Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 89.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,449 shares of the technology company’s stock after purchasing an additional 171,351 shares during the period. JPMorgan Chase & Co. owned approximately 0.57% of Aspen Technology worth $86,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp grew its holdings in shares of Aspen Technology by 42.9% in the 2nd quarter. Van ECK Associates Corp now owns 543 shares of the technology company’s stock worth $108,000 after acquiring an additional 163 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Aspen Technology during the 2nd quarter worth about $387,000. Tortoise Investment Management LLC lifted its stake in Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. TD Asset Management Inc lifted its stake in Aspen Technology by 9.7% during the second quarter. TD Asset Management Inc now owns 2,833 shares of the technology company’s stock valued at $563,000 after buying an additional 251 shares in the last quarter. Finally, Torray Investment Partners LLC boosted its holdings in shares of Aspen Technology by 10.5% in the second quarter. Torray Investment Partners LLC now owns 8,262 shares of the technology company’s stock worth $1,641,000 after buying an additional 782 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of AZPN stock opened at $249.95 on Friday. The firm has a market cap of $15.81 billion, a P/E ratio of -430.95, a PEG ratio of 2.89 and a beta of 0.76. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.44. The stock’s 50-day moving average is $247.36 and its two-hundred day moving average is $225.50.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share 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 negative net margin of 3.26% and a positive return on equity of 2.81%. Aspen Technology’s revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. As a group, research analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AZPN shares. StockNews.com began coverage on shares of Aspen Technology in a research report on Wednesday. They issued a “hold” rating for the company. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler lifted their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. 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 note on Thursday, September 19th. Finally, Robert W. Baird lifted their target price on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $258.00.

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.