JPMorgan Chase & Co. Acquires 171,351 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

JPMorgan Chase & Co. boosted its position in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 89.2% in the third quarter, according to its most recent filing with the SEC. 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 about 0.57% of Aspen Technology worth $86,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its position 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 during the period. Quent Capital LLC grew its position in shares of Aspen Technology by 364.9% during the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company's stock valued at $41,000 after acquiring an additional 135 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Aspen Technology during the 3rd quarter worth approximately $48,000. Anchor Investment Management LLC bought a new stake in shares of Aspen Technology in the 3rd quarter worth approximately $77,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Aspen Technology by 71.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 386 shares of the technology company's stock valued at $77,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AZPN. Piper Sandler raised their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Bank of America boosted their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Robert W. Baird increased their target price on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. StockNews.com started coverage on shares of Aspen Technology in a research report on Wednesday. They issued a "hold" rating on the stock. Finally, Loop Capital raised their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $258.00.

Aspen Technology Trading Up 0.4 %

Shares of AZPN traded up $0.99 during mid-day trading on Friday, reaching $250.94. 199,405 shares of the stock traded hands, compared to its average volume of 300,652. The company has a market cap of $15.87 billion, a price-to-earnings ratio of -432.66, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $254.44. The firm has a fifty day moving average price of $247.64 and a 200 day moving average price of $225.88.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last posted its earnings results on Monday, November 4th. The technology company reported $0.85 EPS 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 analysts' expectations of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology's quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, sell-side analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current 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.