Proficio Capital Partners LLC Purchases Shares of 15,227 Aspen Technology, Inc. (NASDAQ:AZPN)

Proficio Capital Partners LLC acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 15,227 shares of the technology company's stock, valued at approximately $3,801,000.

Several other hedge funds also recently made changes to their positions in AZPN. Charles Schwab Investment Management Inc. raised its holdings in Aspen Technology by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company's stock worth $42,524,000 after purchasing an additional 2,518 shares in the last quarter. JPMorgan Chase & Co. increased its position in Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company's stock worth $86,799,000 after purchasing an additional 171,351 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Aspen Technology by 31.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company's stock valued at $39,728,000 after buying an additional 39,396 shares during the period. Citigroup Inc. grew its holdings in Aspen Technology by 15.9% during the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company's stock worth $5,550,000 after acquiring an additional 3,186 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company's stock valued at $158,318,000 after acquiring an additional 632,545 shares during the period. Institutional investors and hedge funds own 45.66% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on AZPN. Robert W. Baird reiterated a "neutral" rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Baird R W cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 27th. Loop Capital raised Aspen Technology from a "hold" rating to a "buy" rating and lifted their price target for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Piper Sandler increased their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Finally, StockNews.com began coverage on shares of Aspen Technology in a report on Friday, March 14th. They set a "hold" rating for the company. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $272.00.

Aspen Technology Stock Performance

AZPN stock remained flat at $264.33 during trading on Friday. The firm has a market cap of $16.73 billion, a PE ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. The stock has a 50 day simple moving average of $262.06 and a 200-day simple moving average of $248.80. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Research analysts forecast that Aspen Technology, Inc. will post 6.7 earnings per share for the current fiscal 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.