11,982 Shares in Aspen Technology, Inc. (NASDAQ:AZPN) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC purchased a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,982 shares of the technology company’s stock, valued at approximately $2,991,000.

Other institutional investors also recently made changes to their positions in the company. Commerce Bank increased its position in Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares in the last quarter. Heritage Family Offices LLP increased its position in shares of Aspen Technology by 2.8% in the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after acquiring an additional 47 shares in the last quarter. US Bancorp DE raised its stake in shares of Aspen Technology by 0.4% in the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after acquiring an additional 50 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Aspen Technology by 1.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after acquiring an additional 55 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after purchasing an additional 58 shares during the period. 45.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on AZPN shares. Piper Sandler raised their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Loop Capital lowered Aspen Technology from a “buy” rating to a “hold” rating and boosted their price target for the stock from $260.00 to $265.00 in a research report on Wednesday, February 5th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Finally, StockNews.com began coverage on shares of Aspen Technology in a report on Monday. They set a “hold” rating for the company. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $262.00.

Aspen Technology Trading Up 3.5 %

Aspen Technology stock opened at $274.80 on Monday. The stock has a 50 day moving average of $253.88 and a 200-day moving average of $237.32. The stock has a market cap of $17.40 billion, a P/E ratio of 3,435.43, a price-to-earnings-growth ratio of 3.03 and a beta of 0.76. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $277.37.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. As a group, equities analysts predict that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Aspen Technology Company 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.