Citigroup Inc. Has $5.55 Million Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Citigroup Inc. increased its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 15.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,240 shares of the technology company’s stock after purchasing 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 SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZPN. B. Riley Wealth Advisors Inc. raised its position in shares of Aspen Technology by 89.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock valued at $432,000 after buying an additional 998 shares in the last quarter. Tidal Investments LLC raised its position in Aspen Technology by 53.4% during the first quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock valued at $361,000 after purchasing an additional 589 shares in the last quarter. Cetera Advisors LLC bought a new stake in Aspen Technology during the first quarter worth $262,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Aspen Technology by 1,034.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock valued at $7,895,000 after purchasing an additional 35,056 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analysts Set New Price Targets

AZPN has been the topic of several research analyst reports. StockNews.com assumed coverage on Aspen Technology in a research note on Saturday. They issued a “hold” rating on the stock. Bank of America raised 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. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital raised their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Piper Sandler upped their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $250.00 on Monday. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $254.04. The company has a market cap of $15.81 billion, a PE ratio of -431.03, a P/E/G ratio of 2.85 and a beta of 0.76. The firm’s 50 day simple moving average is $240.40 and its 200 day simple moving average is $219.14.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. Equities research analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Aspen Technology 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.