Fisher Asset Management LLC Acquires 10,325 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Fisher Asset Management LLC boosted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,109 shares of the technology company’s stock after purchasing an additional 10,325 shares during the period. Fisher Asset Management LLC’s holdings in Aspen Technology were worth $44,685,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Commerce Bank raised its holdings in shares of Aspen Technology by 3.1% in the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after buying an additional 47 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Aspen Technology by 0.4% during the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after acquiring an additional 50 shares during the period. LRI Investments LLC boosted its stake in shares of Aspen Technology by 6.7% in the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock valued at $171,000 after purchasing an additional 54 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Aspen Technology by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock worth $736,000 after purchasing an additional 55 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Stock Performance

NASDAQ:AZPN opened at $250.40 on Wednesday. The company has a market cap of $15.84 billion, a price-to-earnings ratio of -431.72, a P/E/G ratio of 2.86 and a beta of 0.76. The stock’s fifty day moving average price is $239.28 and its two-hundred day moving average price is $218.05. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.04.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company’s revenue was down 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. On average, equities analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America boosted their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Loop Capital increased their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler raised their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $253.00.

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.