Axxcess Wealth Management LLC Has $333,000 Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Axxcess Wealth Management LLC lowered its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,334 shares of the technology company’s stock after selling 145 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Aspen Technology were worth $333,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Assenagon Asset Management S.A. lifted its stake in Aspen Technology by 37,990.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after acquiring an additional 632,545 shares in the last quarter. Raymond James Financial Inc. bought a new position in Aspen Technology during the 4th quarter valued at $66,680,000. JPMorgan Chase & Co. lifted its stake in Aspen Technology by 89.2% during the 3rd 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 in the last quarter. Amundi lifted its stake in Aspen Technology by 345.7% during the 4th quarter. Amundi now owns 142,897 shares of the technology company’s stock valued at $35,874,000 after acquiring an additional 110,838 shares in the last quarter. Finally, American Capital Management Inc. lifted its stake in Aspen Technology by 116.9% during the 3rd quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock valued at $46,635,000 after acquiring an additional 105,254 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AZPN shares. 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 note on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a research note on Saturday. They set a “hold” rating on the stock. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler lifted their target price 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, Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $272.00.

Aspen Technology Stock Performance

Shares of Aspen Technology stock opened at $264.33 on Friday. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37. The stock’s 50-day simple moving average is $262.36 and its 200 day simple moving average is $249.17. The stock has a market capitalization of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

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