Zurcher Kantonalbank Zurich Cantonalbank Has $4.37 Million Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 218.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,513 shares of the technology company’s stock after acquiring an additional 12,017 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Aspen Technology were worth $4,372,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AZPN. AlphaQuest LLC increased its position in Aspen Technology by 10,166.1% in the fourth quarter. AlphaQuest LLC now owns 6,057 shares of the technology company’s stock worth $1,512,000 after purchasing an additional 5,998 shares during the period. Alpine Associates Management Inc. acquired a new stake in shares of Aspen Technology during the 4th quarter worth approximately $14,903,000. OFI Invest Asset Management bought a new stake in shares of Aspen Technology during the fourth quarter worth approximately $210,000. Amundi raised its stake in shares of Aspen Technology by 345.7% during the fourth quarter. Amundi now owns 142,897 shares of the technology company’s stock worth $35,874,000 after buying an additional 110,838 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new position in Aspen Technology in the fourth quarter valued at approximately $519,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird reiterated a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $265.00 to $315.00 in a report on Monday, February 10th. StockNews.com initiated coverage on Aspen Technology in a report on Friday. They set a “hold” rating on the stock. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Piper Sandler increased their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Stock Performance

AZPN opened at $264.33 on Friday. The stock has a market capitalization of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37. The firm’s fifty day simple moving average is $261.08 and its 200 day simple moving average is $247.69.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly 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%. On average, equities research analysts predict that Aspen Technology, Inc. will post 6.7 EPS for the current fiscal 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.