Dynamic Technology Lab Private Ltd Makes New Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,987 shares of the technology company’s stock, valued at approximately $713,000.

Several other hedge funds have also made changes to their positions in the stock. Commerce Bank raised its holdings in Aspen Technology by 3.1% in the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after acquiring an additional 47 shares in the last quarter. US Bancorp DE increased its position in shares of Aspen Technology by 0.4% during the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after purchasing an additional 50 shares during the period. LRI Investments LLC raised its stake in shares of Aspen Technology by 6.7% in the second quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock valued at $171,000 after purchasing an additional 54 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Aspen Technology by 1.8% in the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock worth $736,000 after purchasing an additional 55 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after buying an additional 56 shares in the last quarter. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

AZPN stock opened at $250.00 on Friday. The business has a fifty day moving average price of $240.11 and a 200 day moving average price of $218.78. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.04. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of -431.03, a P/E/G ratio of 2.86 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. On average, equities analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AZPN. StockNews.com began coverage on shares of Aspen Technology in a research note on Friday, November 22nd. They issued a “hold” rating for the company. Loop Capital lifted their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Robert W. Baird raised their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Bank of America upped their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $253.00.

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.