CIBC Asset Management Inc Raises Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

CIBC Asset Management Inc lifted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,219 shares of the technology company’s stock after purchasing an additional 187 shares during the quarter. CIBC Asset Management Inc’s holdings in Aspen Technology were worth $554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Aspen Technology by 5,700.0% during the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after purchasing an additional 228 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after purchasing an additional 58 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Aspen Technology by 126.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock worth $68,000 after purchasing an additional 151 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in Aspen Technology in the third quarter worth approximately $77,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Aspen Technology in the third quarter worth approximately $116,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

NASDAQ:AZPN opened at $263.90 on Friday. The firm has a market cap of $16.71 billion, a PE ratio of 3,299.16, a price-to-earnings-growth ratio of 3.01 and a beta of 0.76. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $277.37. The business has a 50 day moving average price of $256.70 and a 200-day moving average price of $242.53.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. Research analysts predict that Aspen Technology, Inc. will post 6.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AZPN. Piper Sandler upped their target price on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. StockNews.com initiated coverage on Aspen Technology in a research note on Tuesday, February 18th. They issued a “hold” rating for the company. Finally, Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $272.00.

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.