Point72 Asset Management L.P. Takes Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Point72 Asset Management L.P. acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 83,443 shares of the technology company's stock, valued at approximately $19,928,000. Point72 Asset Management L.P. owned 0.13% of Aspen Technology as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Aspen Technology by 1.6% in the 2nd 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 purchasing an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Aspen Technology by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company's stock valued at $139,156,000 after buying an additional 28,820 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Aspen Technology by 38.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company's stock worth $110,014,000 after buying an additional 153,897 shares in the last quarter. 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 buying an additional 109,783 shares during the period. Finally, Fiera Capital Corp boosted its position in Aspen Technology by 3.8% during the 2nd quarter. Fiera Capital Corp now owns 340,166 shares of the technology company's stock valued at $67,567,000 after acquiring an additional 12,500 shares in the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Berenberg Bank lowered Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Bank of America lifted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. StockNews.com began coverage on shares of Aspen Technology in a research report on Saturday, November 30th. They set a "hold" rating for the company. Piper Sandler lifted their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Finally, Loop Capital boosted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Aspen Technology presently has a consensus rating of "Hold" and an average price target of $253.00.

Aspen Technology Price Performance

NASDAQ AZPN traded up $1.50 during trading on Friday, hitting $251.43. The company's stock had a trading volume of 558,993 shares, compared to its average volume of 510,064. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.04. The business's 50 day simple moving average is $242.00 and its 200-day simple moving average is $220.20.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm's revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter last year, the business earned $0.96 earnings per share. As a group, equities analysts expect that Aspen Technology, Inc. will post 6.68 EPS 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.