Aspen Technology, Inc. (NASDAQ:AZPN) Position Boosted by FourThought Financial LLC

FourThought Financial LLC increased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) by 54.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,159 shares of the technology company’s stock after buying an additional 762 shares during the quarter. FourThought Financial LLC’s holdings in Aspen Technology were worth $514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wipfli Financial Advisors LLC bought a new position in Aspen Technology during the 3rd quarter valued at $33,000. Altshuler Shaham Ltd bought a new position in Aspen Technology during the 3rd quarter valued at $37,000. CWM LLC boosted its stake in Aspen Technology by 163.9% during the 3rd quarter. CWM LLC now owns 190 shares of the technology company’s stock valued at $45,000 after purchasing an additional 118 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Aspen Technology during the 3rd quarter valued at $47,000. Finally, Pinnacle Financial Partners Inc. bought a new position in Aspen Technology during the 3rd quarter valued at $71,000. 44.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Loop Capital cut their price objective on Aspen Technology from $255.00 to $230.00 in a research report on Thursday, January 26th. Berenberg Bank assumed 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. StockNews.com assumed coverage on Aspen Technology in a research report on Thursday. They set a “hold” rating for the company. Robert W. Baird cut their price objective on Aspen Technology from $224.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. Finally, Piper Sandler cut their price objective on Aspen Technology from $240.00 to $195.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Aspen Technology has an average rating of “Hold” and an average target price of $218.50.

Aspen Technology Stock Up 0.8 %

AZPN opened at $205.59 on Friday. The stock has a fifty day moving average of $207.49 and a 200-day moving average of $220.88. The firm has a market capitalization of $13.32 billion, a P/E ratio of 193.95, a PEG ratio of 1.96 and a beta of 0.94. Aspen Technology, Inc. has a 12-month low of $137.21 and a 12-month high of $263.59.

Aspen Technology Profile

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Aspen Technology together with its subsidiaries develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes. Its software applications utilize proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.