Raymond James & Associates Acquires 18,979 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Raymond James & Associates lifted its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 8.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 257,166 shares of the technology company’s stock after purchasing an additional 18,979 shares during the period. Raymond James & Associates owned 0.40% of Aspen Technology worth $54,848,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Alaska Permanent Fund Corp acquired a new stake in Aspen Technology during the fourth quarter worth about $2,957,000. IFM Investors Pty Ltd acquired a new stake in Aspen Technology during the first quarter worth about $1,166,000. Toronto Dominion Bank grew its position in Aspen Technology by 79,514.3% during the third quarter. Toronto Dominion Bank now owns 5,573 shares of the technology company’s stock worth $1,138,000 after buying an additional 5,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Aspen Technology by 2.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,662 shares of the technology company’s stock worth $91,508,000 after buying an additional 8,856 shares in the last quarter. Finally, Fiera Capital Corp grew its position in Aspen Technology by 7.0% during the third quarter. Fiera Capital Corp now owns 198,913 shares of the technology company’s stock worth $40,630,000 after buying an additional 13,009 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Stock Performance

NASDAQ AZPN traded up $0.73 during trading on Friday, reaching $202.10. 276,688 shares of the company traded hands, compared to its average volume of 166,374. The company has a market cap of $12.84 billion, a price-to-earnings ratio of -149.70, a P/E/G ratio of 2.04 and a beta of 0.76. Aspen Technology, Inc. has a 1-year low of $161.32 and a 1-year high of $224.77. The stock’s 50 day moving average price is $202.15 and its two-hundred day moving average price is $196.30.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). The business had revenue of $257.16 million during the quarter, compared to analyst estimates of $259.70 million. Aspen Technology had a positive return on equity of 2.38% and a negative net margin of 8.17%. Equities research analysts expect that Aspen Technology, Inc. will post 5.82 EPS for the current fiscal year.

Analysts Set New Price Targets

AZPN has been the topic of a number of recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $196.00 price objective on shares of Aspen Technology in a report on Wednesday, February 7th. StockNews.com raised Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Aspen Technology has an average rating of “Hold” and an average target price of $203.67.

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.