K2 Principal Fund L.P. Acquires New Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

K2 Principal Fund L.P. acquired a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,000 shares of the technology company’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Aspen Technology in the fourth quarter worth about $26,000. Atala Financial Inc bought a new position in Aspen Technology in the 4th quarter worth about $44,000. Bessemer Group Inc. increased its position in shares of Aspen Technology by 29.7% during the fourth quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after acquiring an additional 44 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Aspen Technology by 965.0% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after acquiring an additional 193 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Aspen Technology by 5,700.0% in the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

AZPN stock opened at $264.33 on Friday. The firm has a 50-day simple moving average of $264.38 and a two-hundred day simple moving average of $257.01. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $277.37. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73.

Wall Street Analyst Weigh In

Several research analysts have commented 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 report on Monday, January 27th. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $315.00 in a research note on Monday, February 10th. StockNews.com started coverage on shares of Aspen Technology in a report on Friday. They set a “hold” rating on the stock. Piper Sandler boosted their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Hold” and an average 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.