46,967 Shares in Aspen Technology, Inc. (NASDAQ:AZPN) Acquired by Paloma Partners Management Co

Paloma Partners Management Co acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 46,967 shares of the technology company's stock, valued at approximately $11,217,000. Paloma Partners Management Co owned about 0.07% of Aspen Technology as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AZPN. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Aspen Technology by 38.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company's stock valued at $110,014,000 after purchasing an additional 153,897 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Aspen Technology in the 3rd quarter valued at approximately $290,880,000. Dimensional Fund Advisors LP boosted its stake in Aspen Technology by 26.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company's stock valued at $104,199,000 after buying an additional 109,783 shares in the last quarter. American Capital Management Inc. boosted its stake in shares of Aspen Technology by 116.9% in the 3rd quarter. American Capital Management Inc. now owns 195,271 shares of the technology company's stock valued at $46,635,000 after purchasing an additional 105,254 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Aspen Technology by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company's stock valued at $812,459,000 after acquiring an additional 65,143 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AZPN shares. Berenberg Bank lowered shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. StockNews.com started coverage on Aspen Technology in a report on Saturday. They issued a "hold" rating for the company. Piper Sandler raised their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their price target on Aspen Technology from $230.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. Finally, Loop Capital upped their price target on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $253.00.

Aspen Technology Price Performance

Shares of Aspen Technology stock traded down $1.14 during trading on Monday, hitting $248.86. 170,678 shares of the company's stock traded hands, compared to its average volume of 236,950. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $254.04. The business has a 50-day simple moving average of $240.40 and a 200-day simple moving average of $219.14. The stock has a market capitalization of $15.74 billion, a P/E ratio of -433.52, a PEG ratio of 2.85 and a beta of 0.76.

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

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.