Gabelli Funds LLC Boosts Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Gabelli Funds LLC boosted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 199.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,617 shares of the technology company’s stock after purchasing an additional 3,739 shares during the period. Gabelli Funds LLC’s holdings in Aspen Technology were worth $1,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Aspen Technology by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock valued at $42,524,000 after acquiring an additional 2,518 shares in the last quarter. JPMorgan Chase & Co. increased its position in Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after purchasing an additional 171,351 shares during the period. Assenagon Asset Management S.A. raised its holdings in Aspen Technology by 37,990.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after purchasing an additional 632,545 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Aspen Technology in the 4th quarter worth about $216,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Aspen Technology in the 4th quarter worth about $66,680,000. Institutional investors own 45.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Robert W. Baird restated a “neutral” rating and issued a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. StockNews.com assumed coverage on Aspen Technology in a research note on Tuesday. They set a “hold” rating for the company. Finally, Piper Sandler increased their target price on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $272.00.

Aspen Technology Stock Performance

AZPN stock opened at $264.33 on Friday. The stock’s 50 day simple moving average is $264.42 and its 200 day simple moving average is $253.96. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The stock has a market capitalization 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.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

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.