Slotnik Capital LLC Purchases Shares of 40,924 Aspen Technology, Inc. (NASDAQ:AZPN)

Slotnik Capital LLC acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,924 shares of the technology company’s stock, valued at approximately $10,216,000. Aspen Technology accounts for about 4.6% of Slotnik Capital LLC’s holdings, making the stock its 8th largest holding. Slotnik Capital LLC owned about 0.06% of Aspen Technology at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. boosted its holdings in shares of Aspen Technology by 2,272.7% in the 4th quarter. Franklin Resources Inc. now owns 690,940 shares of the technology company’s stock valued at $172,479,000 after buying an additional 661,820 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after acquiring an additional 632,545 shares during the last quarter. Norges Bank bought a new position in shares of Aspen Technology in the 4th quarter valued at about $70,813,000. Raymond James Financial Inc. bought a new position in shares of Aspen Technology in the 4th quarter valued at about $66,680,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after purchasing an additional 171,351 shares during the period. 45.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Robert W. Baird restated a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. StockNews.com began coverage on shares of Aspen Technology in a report on Sunday. They set a “hold” rating for the company. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Finally, Piper Sandler upped their target price on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $264.33 on Thursday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The firm has a market cap of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The company’s fifty day simple moving average is $264.31 and its 200 day simple moving average is $251.30.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. On average, equities analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current 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.