New Age Alpha Advisors LLC Makes New $686,000 Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

New Age Alpha Advisors LLC purchased a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,748 shares of the technology company’s stock, valued at approximately $686,000.

A number of other large investors have also recently made changes to their positions in AZPN. Charles Schwab Investment Management Inc. grew its holdings in shares of Aspen Technology by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock worth $40,082,000 after acquiring an additional 10,327 shares during the period. Citigroup Inc. boosted its position in Aspen Technology by 15.9% in the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock worth $5,550,000 after purchasing an additional 3,186 shares during the last quarter. FMR LLC grew its stake in shares of Aspen Technology by 51.2% during the 3rd quarter. FMR LLC now owns 4,369 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 1,480 shares during the period. Verition Fund Management LLC increased its position in shares of Aspen Technology by 5.9% during the 3rd quarter. Verition Fund Management LLC now owns 8,129 shares of the technology company’s stock valued at $1,941,000 after purchasing an additional 455 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Aspen Technology in the 3rd quarter worth approximately $116,000. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $264.33 on Tuesday. The stock has a fifty day simple moving average of $264.01 and a two-hundred day simple moving average of $250.93. The firm has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that Aspen Technology, Inc. will post 6.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AZPN. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 target price (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and upped their price objective for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. StockNews.com initiated coverage on Aspen Technology in a research report on Sunday. They set a “hold” rating on the stock. Piper Sandler upped their price target on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $272.00.

Aspen Technology Company 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.