Proficio Capital Partners LLC Makes New Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

Proficio Capital Partners LLC bought a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 15,227 shares of the technology company’s stock, valued at approximately $3,801,000.

A number of other hedge funds have also made changes to their positions in AZPN. Assenagon Asset Management S.A. increased 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 buying an additional 632,545 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after buying an additional 171,351 shares during the last quarter. American Capital Management Inc. boosted its holdings in shares of Aspen Technology by 116.9% in the 3rd quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock valued at $46,635,000 after buying an additional 105,254 shares during the period. Point72 Asset Management L.P. bought a new position in Aspen Technology in the third quarter worth about $19,928,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Aspen Technology during the 3rd quarter worth approximately $11,217,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Performance

Shares of NASDAQ AZPN opened at $264.33 on Tuesday. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37. The firm has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. The stock has a fifty day moving average price of $261.31 and a two-hundred day moving average price of $248.36.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler increased their price target on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, StockNews.com started coverage on Aspen Technology in a report on Friday. They set a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Aspen Technology has an average rating of “Hold” and an average price target of $272.00.

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.