Vestcor Inc Raises Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Vestcor Inc increased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 2,238.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,670 shares of the technology company's stock after purchasing an additional 15,000 shares during the period. Vestcor Inc's holdings in Aspen Technology were worth $3,912,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AZPN. Bailard Inc. lifted its stake in Aspen Technology by 0.9% in the fourth quarter. Bailard Inc. now owns 4,541 shares of the technology company's stock worth $1,134,000 after purchasing an additional 41 shares during the last quarter. Net Worth Advisory Group lifted its stake in shares of Aspen Technology by 1.0% in the 4th quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company's stock valued at $1,048,000 after acquiring an additional 41 shares during the last quarter. Commerce Bank boosted its holdings in Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company's stock valued at $370,000 after acquiring an additional 47 shares during the period. Heritage Family Offices LLP grew its position in Aspen Technology by 2.8% during the 4th 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 during the last quarter. Finally, GAMMA Investing LLC increased its stake in Aspen Technology by 30.1% in 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. Institutional investors own 45.66% of the company's stock.

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Aspen Technology Stock Performance

Shares of AZPN remained flat at $264.33 during trading hours on Tuesday. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37. The firm has a 50-day moving average of $261.31 and a 200 day moving average of $248.36. The firm has a market cap of $16.73 billion, a PE ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler increased their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. StockNews.com started coverage on shares of Aspen Technology in a report on Friday. They issued a "hold" rating on the stock. Loop Capital raised shares of Aspen Technology from a "hold" rating to a "buy" rating and upped their price objective for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Baird R W cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 27th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $272.00.

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.