Assenagon Asset Management S.A. Purchases 632,545 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Assenagon Asset Management S.A. increased its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 37,990.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 634,210 shares of the technology company’s stock after buying an additional 632,545 shares during the quarter. Assenagon Asset Management S.A. owned 1.00% of Aspen Technology worth $158,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZPN. Commerce Bank raised its position in shares of Aspen Technology by 3.1% during the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares during the period. US Bancorp DE increased its stake in Aspen Technology by 0.4% during the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after purchasing an additional 50 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Aspen Technology by 1.8% during 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 in the last quarter. GAMMA Investing LLC raised its holdings in Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after buying an additional 58 shares during the period. Finally, Kolinsky Wealth Management LLC lifted its stake in Aspen Technology by 4.7% in the third quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock valued at $317,000 after buying an additional 60 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AZPN has been the subject of several research reports. Loop Capital increased their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Robert W. Baird lifted their price target on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com initiated coverage on Aspen Technology in a report on Thursday, January 9th. They issued a “hold” rating on the stock. Bank of America increased their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $258.00.

Aspen Technology Stock Up 0.3 %

NASDAQ:AZPN opened at $249.91 on Wednesday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $254.44. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of -430.88, a P/E/G ratio of 2.89 and a beta of 0.76. The stock’s 50 day moving average price is $249.41 and its two-hundred day moving average price is $229.00.

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

About Aspen Technology

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.