HighTower Advisors LLC Purchases 165 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

HighTower Advisors LLC grew its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 5.1% in the 4th quarter, HoldingsChannel reports. The fund owned 3,386 shares of the technology company’s stock after buying an additional 165 shares during the period. HighTower Advisors LLC’s holdings in Aspen Technology were worth $845,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of 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. Raymond James Financial Inc. bought a new position in shares of Aspen Technology in the fourth quarter valued at $66,680,000. JPMorgan Chase & Co. lifted its stake in shares of Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after buying an additional 171,351 shares in the last quarter. Amundi grew its holdings in shares of Aspen Technology by 345.7% during the fourth quarter. Amundi now owns 142,897 shares of the technology company’s stock valued at $35,874,000 after buying an additional 110,838 shares during the last quarter. Finally, American Capital Management Inc. increased its position in shares of Aspen Technology by 116.9% during the third quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock worth $46,635,000 after acquiring an additional 105,254 shares in the last quarter. Institutional investors own 45.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. StockNews.com assumed coverage on Aspen Technology in a research report on Saturday, March 22nd. They set a “hold” rating on the stock. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Finally, Piper Sandler raised their price objective on Aspen Technology from $240.00 to $265.00 and gave the company 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $272.00.

Aspen Technology Price Performance

AZPN stock opened at $264.33 on Friday. The firm has a market cap of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The business has a 50 day moving average of $263.49 and a 200-day moving average of $250.05. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data 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 expect that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

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.