M&T Bank Corp Acquires 7,298 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

M&T Bank Corp increased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 158.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,910 shares of the technology company’s stock after acquiring an additional 7,298 shares during the quarter. M&T Bank Corp’s holdings in Aspen Technology were worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Aspen Technology by 116.1% during the third quarter. Wellington Management Group LLP now owns 567,200 shares of the technology company’s stock valued at $115,856,000 after purchasing an additional 304,712 shares in the last quarter. International Assets Investment Management LLC bought a new position in Aspen Technology during the 4th quarter valued at approximately $31,309,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in Aspen Technology by 3.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,721,956 shares of the technology company’s stock valued at $760,247,000 after buying an additional 124,934 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Aspen Technology by 12.9% in the third quarter. Nordea Investment Management AB now owns 1,044,959 shares of the technology company’s stock worth $215,920,000 after acquiring an additional 119,102 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Aspen Technology by 30.7% in the third quarter. Envestnet Asset Management Inc. now owns 134,486 shares of the technology company’s stock worth $27,470,000 after acquiring an additional 31,565 shares during the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AZPN has been the subject of several recent analyst reports. StockNews.com raised Aspen Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Robert W. Baird decreased their target price on shares of Aspen Technology from $225.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Piper Sandler cut their price target on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $201.00.

Aspen Technology Trading Up 4.8 %

AZPN opened at $197.79 on Thursday. Aspen Technology, Inc. has a 12-month low of $161.32 and a 12-month high of $224.77. The company’s 50 day moving average is $202.53 and its 200 day moving average is $196.45. The company has a market cap of $12.57 billion, a price-to-earnings ratio of -146.51, a PEG ratio of 2.05 and a beta of 0.76.

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

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.