Dai ichi Life Insurance Company Ltd Buys Shares of 2,256 Aspen Technology, Inc. (NASDAQ:AZPN)

Dai ichi Life Insurance Company Ltd purchased a new stake in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,256 shares of the technology company's stock, valued at approximately $539,000.

Several other hedge funds also recently modified their holdings of the company. Mirabella Financial Services LLP increased its position in shares of Aspen Technology by 78.8% during the third quarter. Mirabella Financial Services LLP now owns 13,410 shares of the technology company's stock worth $3,140,000 after buying an additional 5,908 shares during the period. Brown Brothers Harriman & Co. grew its stake in Aspen Technology by 31.0% during the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company's stock worth $39,728,000 after purchasing an additional 39,396 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Aspen Technology during the 3rd quarter worth approximately $713,000. Fisher Asset Management LLC increased its stake in Aspen Technology by 5.8% in the third quarter. Fisher Asset Management LLC now owns 187,109 shares of the technology company's stock valued at $44,685,000 after purchasing an additional 10,325 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Aspen Technology by 4.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,768 shares of the technology company's stock valued at $2,332,000 after buying an additional 434 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company's stock.

Aspen Technology Stock Performance

NASDAQ AZPN remained flat at $250.00 on Friday. The company's stock had a trading volume of 133,408 shares, compared to its average volume of 237,248. The stock's 50 day simple moving average is $240.11 and its two-hundred day simple moving average is $218.78. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $254.04.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. StockNews.com assumed coverage on shares of Aspen Technology in a research report on Friday, November 22nd. They issued a "hold" rating on the stock. Bank of America upped their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Piper Sandler increased their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Loop Capital increased 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Aspen Technology has an average rating of "Hold" and an average target price 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.