Aspen Technology, Inc. (NASDAQ:AZPN) Shares Acquired by Man Group plc

Man Group plc grew its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 1,400.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,293 shares of the technology company’s stock after acquiring an additional 102,942 shares during the period. Man Group plc owned about 0.17% of Aspen Technology worth $27,532,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AZPN. Bailard Inc. lifted its position in shares of 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 buying an additional 41 shares during the last quarter. Net Worth Advisory Group lifted its position in shares of Aspen Technology by 1.0% in the 4th quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after buying an additional 41 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Aspen Technology by 29.7% in the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after buying an additional 44 shares during the last quarter. Heritage Family Offices LLP lifted its position in shares of Aspen Technology by 2.8% in the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after buying an additional 47 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Aspen Technology by 4.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,415 shares of the technology company’s stock worth $353,000 after buying an additional 65 shares during the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AZPN shares. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. StockNews.com started coverage on shares of Aspen Technology in a research report on Friday, May 9th. They issued a “hold” rating on the stock. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, Piper Sandler lifted their price objective 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Price Performance

Shares of AZPN opened at $264.33 on Friday. The firm’s 50 day moving average is $264.34 and its 200-day moving average is $257.62. The stock has a market capitalization 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, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37.

Aspen Technology 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.