AlphaQuest LLC Grows Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

AlphaQuest LLC increased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 10,166.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,057 shares of the technology company's stock after acquiring an additional 5,998 shares during the period. AlphaQuest LLC's holdings in Aspen Technology were worth $1,512,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AZPN. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Aspen Technology by 11.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,312 shares of the technology company's stock valued at $313,000 after acquiring an additional 133 shares in the last quarter. Van ECK Associates Corp grew its holdings in Aspen Technology by 28.5% during the third quarter. Van ECK Associates Corp now owns 698 shares of the technology company's stock valued at $162,000 after purchasing an additional 155 shares during the period. Asset Management One Co. Ltd. grew its holdings in Aspen Technology by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 10,614 shares of the technology company's stock valued at $2,535,000 after purchasing an additional 1,017 shares during the period. Covestor Ltd grew its holdings in Aspen Technology by 47.7% during the third quarter. Covestor Ltd now owns 542 shares of the technology company's stock valued at $130,000 after purchasing an additional 175 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Aspen Technology by 16.1% during the third quarter. Crossmark Global Holdings Inc. now owns 2,187 shares of the technology company's stock valued at $522,000 after purchasing an additional 303 shares during the period. 45.66% of the stock is owned by institutional investors.

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Aspen Technology Stock Performance

Shares of AZPN stock remained flat at $264.33 on Thursday. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $277.37. The stock has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The business's 50 day moving average price is $260.52 and its two-hundred day moving average price is $247.22.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.7 EPS for the current fiscal year.

Analysts Set New Price Targets

AZPN has been the subject of several research reports. Robert W. Baird reissued a "neutral" rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Baird R W lowered Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 27th. Loop Capital raised Aspen Technology from a "hold" rating to a "buy" rating and increased their price objective for the company from $265.00 to $315.00 in a report on Monday, February 10th. Piper Sandler increased their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Finally, StockNews.com began coverage on Aspen Technology in a report on Thursday, March 6th. They issued a "hold" rating for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Aspen Technology has a consensus rating of "Hold" and a consensus target price of $272.00.

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.