Norden Group LLC Has $9.18 Million Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Norden Group LLC lifted its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 2,673.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,020 shares of the technology company’s stock after acquiring an additional 41,469 shares during the quarter. Norden Group LLC owned approximately 0.07% of Aspen Technology worth $9,175,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in Aspen Technology by 116.1% during the third quarter. Wellington Management Group LLP now owns 567,200 shares of the technology company’s stock worth $115,856,000 after buying an additional 304,712 shares during the last quarter. Norges Bank acquired a new position in shares of Aspen Technology during the 4th quarter worth about $31,630,000. International Assets Investment Management LLC bought a new stake in shares of Aspen Technology in the 4th quarter valued at about $31,309,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Aspen Technology by 602.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 74,199 shares of the technology company’s stock valued at $16,335,000 after purchasing an additional 63,632 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in Aspen Technology by 94.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 59,766 shares of the technology company’s stock valued at $13,157,000 after purchasing an additional 28,951 shares during the last quarter. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $199.53 on Thursday. The stock has a 50 day simple moving average of $204.65 and a 200 day simple moving average of $202.61. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $224.77.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.39. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The company had revenue of $278.11 million during the quarter, compared to the consensus estimate of $251.65 million. On average, research analysts forecast that Aspen Technology, Inc. will post 5.52 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $185.00 to $255.00 in a research note on Friday, May 17th. Robert W. Baird restated an “outperform” rating and issued a $230.00 price target on shares of Aspen Technology in a research note on Friday, June 14th. Piper Sandler reduced their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, William Blair upgraded shares of Aspen Technology to a “hold” rating in a report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $219.50.

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.