Point72 Asia Singapore Pte. Ltd. Acquires Shares of 485 Aspen Technology, Inc. (NASDAQ:AZPN)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 485 shares of the technology company’s stock, valued at approximately $116,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZPN. Tortoise Investment Management LLC grew its stake in Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Mather Group LLC. grew its position in shares of Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after acquiring an additional 130 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after acquiring an additional 119 shares during the period. Quent Capital LLC raised its position in Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after purchasing an additional 135 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Aspen Technology by 65.7% during the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

Aspen Technology stock opened at $249.93 on Friday. The stock’s 50 day moving average price is $241.72 and its 200 day moving average price is $219.99. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $254.04. The company has a market cap of $15.81 billion, a PE ratio of -430.91, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its 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 for 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%. Aspen Technology’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on AZPN shares. Bank of America lifted their price objective 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. StockNews.com started coverage on Aspen Technology in a research note on Saturday, November 30th. They set a “hold” rating for the company. Loop Capital lifted their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler upped their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $253.00.

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.