Aspen Technology, Inc. (NASDAQ:AZPN) Shares Bought by Citigroup Inc.

Citigroup Inc. increased its position in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 15.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,240 shares of the technology company's stock after acquiring an additional 3,186 shares during the period. Citigroup Inc.'s holdings in Aspen Technology were worth $5,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Commerce Bank raised its position in Aspen Technology by 3.1% during the third 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. US Bancorp DE grew its holdings in shares of Aspen Technology by 0.4% during the third quarter. US Bancorp DE now owns 13,695 shares of the technology company's stock worth $3,271,000 after buying an additional 50 shares in the last quarter. LRI Investments LLC raised its holdings in Aspen Technology by 6.7% in the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company's stock valued at $171,000 after acquiring an additional 54 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Aspen Technology by 1.8% during the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company's stock worth $736,000 after buying an additional 55 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its holdings in shares of Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock valued at $25,000 after purchasing an additional 56 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Price Performance

Shares of NASDAQ:AZPN traded down $1.66 during trading on Monday, reaching $248.34. The company had a trading volume of 764,147 shares, compared to its average volume of 239,519. The stock's fifty day moving average price is $240.69 and its 200 day moving average price is $219.38. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.04. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of -428.17, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million during the quarter, compared to analysts' expectations of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. Aspen Technology's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. On average, equities analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on AZPN. Berenberg Bank downgraded Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Bank of America raised their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. StockNews.com started coverage on Aspen Technology in a report on Saturday. They set a "hold" rating for the company. Finally, Piper Sandler boosted their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. 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, the stock has an average rating of "Hold" and a consensus price target of $253.00.

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.