Allspring Global Investments Holdings LLC Buys New Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Allspring Global Investments Holdings LLC bought a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPNGet Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,592 shares of the technology company’s stock, valued at approximately $1,093,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wipfli Financial Advisors LLC purchased a new stake in Aspen Technology in the 3rd quarter worth approximately $33,000. Eagle Bay Advisors LLC lifted its stake in shares of Aspen Technology by 20.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 332 shares of the technology company’s stock valued at $61,000 after purchasing an additional 57 shares during the period. Venture Visionary Partners LLC purchased a new position in shares of Aspen Technology in the 2nd quarter valued at approximately $76,000. Brown Brothers Harriman & Co. lifted its stake in shares of Aspen Technology by 1,434.4% in the 1st quarter. Brown Brothers Harriman & Co. now owns 491 shares of the technology company’s stock valued at $81,000 after purchasing an additional 459 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Aspen Technology by 96.7% in the 1st quarter. Covestor Ltd now owns 665 shares of the technology company’s stock valued at $110,000 after purchasing an additional 327 shares during the period. Hedge funds and other institutional investors own 44.40% of the company’s stock.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of analyst reports. KeyCorp raised their price objective on Aspen Technology from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, October 27th. StockNews.com initiated coverage on Aspen Technology in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Robert W. Baird reduced their price objective on Aspen Technology from $242.00 to $224.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Berenberg Bank initiated coverage on Aspen Technology in a research report on Wednesday, January 11th. They set a “hold” rating and a $210.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Aspen Technology has an average rating of “Hold” and a consensus target price of $234.83.

Aspen Technology Price Performance

AZPN stock opened at $196.55 on Friday. The company has a market cap of $12.69 billion, a P/E ratio of 65.52, a price-to-earnings-growth ratio of 1.84 and a beta of 1.01. Aspen Technology, Inc. has a 1 year low of $135.48 and a 1 year high of $263.59. The stock’s fifty day moving average price is $215.78 and its 200-day moving average price is $218.45.

Aspen Technology (NASDAQ:AZPNGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The technology company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.89. The firm had revenue of $250.82 million for the quarter, compared to the consensus estimate of $236.76 million. Aspen Technology had a return on equity of 5.75% and a net margin of 21.55%. The company’s revenue for the quarter was up 84.4% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. As a group, analysts expect that Aspen Technology, Inc. will post 5.99 earnings per share for the current year.

Insider Transactions at Aspen Technology

In other news, VP F G. Hammond sold 2,495 shares of the firm’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $223.75, for a total value of $558,256.25. Following the transaction, the vice president now directly owns 20,152 shares in the company, valued at approximately $4,509,010. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Aspen Technology Profile

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Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.

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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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