Atomi Financial Group Inc. Invests $216,000 in Aspen Technology, Inc. (NASDAQ:AZPN)

Atomi Financial Group Inc. purchased a new position in Aspen Technology, Inc. (NASDAQ:AZPN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 864 shares of the technology company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently modified their holdings of AZPN. JPMorgan Chase & Co. increased its position in Aspen Technology by 89.2% during the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after acquiring an additional 171,351 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in Aspen Technology by 31.0% during the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after purchasing an additional 39,396 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Aspen Technology by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock valued at $40,082,000 after purchasing an additional 10,327 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 valued at $5,550,000 after purchasing an additional 3,186 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Aspen Technology by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after purchasing an additional 28,820 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AZPN. StockNews.com began coverage on Aspen Technology in a report on Saturday. They set a “hold” rating for the company. Robert W. Baird restated a “neutral” rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research report on Monday. Piper Sandler lifted their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $261.00.

Aspen Technology Stock Performance

AZPN opened at $263.50 on Tuesday. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $263.96. The firm’s fifty day moving average is $250.59 and its 200 day moving average is $232.27. The stock has a market cap of $16.67 billion, a price-to-earnings ratio of -454.31, a price-to-earnings-growth ratio of 2.94 and a beta of 0.76.

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