GAMMA Investing LLC Purchases 58 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

GAMMA Investing LLC boosted its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 30.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251 shares of the technology company’s stock after acquiring an additional 58 shares during the quarter. GAMMA Investing LLC’s holdings in Aspen Technology were worth $63,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Aspen Technology by 89.2% during the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after acquiring an additional 171,351 shares in the last quarter. Franklin Resources Inc. boosted its stake in Aspen Technology by 2.7% in the third quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company’s stock worth $6,912,000 after purchasing an additional 778 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Aspen Technology by 12.6% during the third quarter. Synovus Financial Corp now owns 12,487 shares of the technology company’s stock worth $2,982,000 after purchasing an additional 1,396 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Aspen Technology by 9.2% in the third quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company’s stock valued at $3,162,000 after buying an additional 1,065 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new position in shares of Aspen Technology in the third quarter valued at about $77,000. Institutional investors own 45.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price objective on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Bank of America upped 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 lifted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Piper Sandler increased their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Aspen Technology has a consensus rating of “Hold” and an average target price of $258.00.

Aspen Technology Stock Performance

Shares of AZPN opened at $249.36 on Monday. The stock has a 50 day simple moving average of $249.00 and a 200 day simple moving average of $228.28. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.44. The firm has a market capitalization of $15.77 billion, a PE ratio of -429.93, a P/E/G ratio of 2.89 and a beta of 0.76.

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