Charles Schwab Investment Management Inc. Purchases 10,327 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 167,832 shares of the technology company’s stock after acquiring an additional 10,327 shares during the period. Charles Schwab Investment Management Inc. owned 0.27% of Aspen Technology worth $40,082,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Aspen Technology by 1.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after acquiring an additional 65,143 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock worth $139,156,000 after purchasing an additional 28,820 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Aspen Technology by 38.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after purchasing an additional 153,897 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Aspen Technology by 26.5% in the second 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 during the period. Finally, Fiera Capital Corp increased its position in shares of Aspen Technology by 3.8% in the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after purchasing an additional 12,500 shares during the period. Institutional investors own 45.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AZPN shares. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America increased their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Loop Capital upped their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. StockNews.com assumed coverage on shares of Aspen Technology in a research note on Saturday. They issued a “hold” rating for the company. Finally, Piper Sandler upped their price objective 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Stock Down 0.7 %

Shares of NASDAQ:AZPN opened at $248.34 on Tuesday. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $254.04. The company’s fifty day moving average is $240.69 and its 200 day moving average is $219.38. The stock has a market cap of $15.71 billion, a PE ratio of -428.17, a PEG ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its 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 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%. Aspen Technology’s revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 EPS. Sell-side analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current 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.