Charles Schwab Investment Management Inc. Grows Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Charles Schwab Investment Management Inc. grew its position in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 6.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,832 shares of the technology company's stock after acquiring an additional 10,327 shares during the period. Charles Schwab Investment Management Inc. owned about 0.27% of Aspen Technology worth $40,082,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Landscape Capital Management L.L.C. increased its stake in shares of Aspen Technology by 13.4% during the third quarter. Landscape Capital Management L.L.C. now owns 2,085 shares of the technology company's stock worth $498,000 after purchasing an additional 247 shares in the last quarter. Commerce Bank grew its stake 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 in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Aspen Technology during the 3rd quarter valued at about $6,080,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Aspen Technology during the 3rd quarter valued at about $1,100,000. Finally, CIBC Asset Management Inc grew its stake in Aspen Technology by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 2,032 shares of the technology company's stock valued at $485,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company's stock.

Aspen Technology Stock Up 0.1 %

Shares of AZPN stock traded up $0.25 during mid-day trading on Tuesday, hitting $248.59. The stock had a trading volume of 712,830 shares, compared to its average volume of 626,887. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.04. The company's 50-day simple moving average is $240.69 and its 200-day simple moving average is $219.38.

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 the consensus estimate of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. During the same quarter last year, the business posted $0.96 EPS. The firm's revenue was down 13.4% on a year-over-year basis. As a group, analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Analyst Upgrades and Downgrades

AZPN has been the subject of several research reports. Loop Capital upped their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Berenberg Bank cut shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America increased their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Piper Sandler increased their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird increased their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Aspen Technology currently has a consensus rating of "Hold" and an average target price of $253.00.

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.