Alpine Global Management LLC Makes New $1.72 Million Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

Alpine Global Management LLC acquired a new position in Aspen Technology, Inc. (NASDAQ:AZPN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,900 shares of the technology company’s stock, valued at approximately $1,722,000.

Other hedge funds also recently modified their holdings of the company. Bailard Inc. lifted its stake in Aspen Technology by 0.9% in the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock worth $1,134,000 after purchasing an additional 41 shares in the last quarter. Net Worth Advisory Group boosted its position in Aspen Technology by 1.0% during the fourth quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock valued at $1,048,000 after buying an additional 41 shares during the period. Bessemer Group Inc. raised its holdings in Aspen Technology by 29.7% during the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock valued at $48,000 after buying an additional 44 shares during the last quarter. Heritage Family Offices LLP grew its stake in shares of Aspen Technology by 2.8% in the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after purchasing an additional 47 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after buying an additional 58 shares during the last quarter. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Aspen Technology stock opened at $264.33 on Tuesday. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37. The firm has a market cap of $16.73 billion, a PE ratio of 3,304.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The company’s 50 day moving average is $264.41 and its two-hundred day moving average is $254.40.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of analyst reports. StockNews.com assumed coverage on Aspen Technology in a research report on Tuesday, April 15th. They set a “hold” rating for the company. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Piper Sandler boosted their target price on 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 reaffirmed a “neutral” rating and set a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Technology has a consensus 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.