KLP Kapitalforvaltning AS Invests $3.11 Million in Aspen Technology, Inc. (NASDAQ:AZPN)

KLP Kapitalforvaltning AS acquired a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,450 shares of the technology company’s stock, valued at approximately $3,108,000.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in Aspen Technology by 2.2% during the fourth quarter. American Century Companies Inc. now owns 6,112 shares of the technology company’s stock worth $1,526,000 after buying an additional 134 shares during the period. Xponance Inc. raised its position in shares of Aspen Technology by 6.1% in the 4th quarter. Xponance Inc. now owns 4,750 shares of the technology company’s stock worth $1,186,000 after acquiring an additional 275 shares in the last quarter. Atala Financial Inc purchased a new stake in shares of Aspen Technology during the 4th quarter worth $44,000. Impact Capital Partners LLC bought a new stake in Aspen Technology during the fourth quarter valued at about $1,009,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Aspen Technology by 6.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 7,763 shares of the technology company’s stock valued at $1,933,000 after purchasing an additional 484 shares during the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $264.33 on Thursday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The company has a fifty day simple moving average of $263.23 and a two-hundred day simple moving average of $249.95. The stock has a market cap 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 issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping 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%. As a group, sell-side analysts forecast that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on AZPN. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Piper Sandler increased their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Robert W. Baird restated a “neutral” rating and issued a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. StockNews.com assumed coverage on Aspen Technology in a research report on Saturday, March 22nd. They set a “hold” rating on the stock. Finally, Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $272.00.

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.