Proficio Capital Partners LLC Invests $3.80 Million in Aspen Technology, Inc. (NASDAQ:AZPN)

Proficio Capital Partners LLC bought a new stake 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 bought 15,227 shares of the technology company’s stock, valued at approximately $3,801,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bailard Inc. increased its stake in Aspen Technology by 0.9% in the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock valued at $1,134,000 after buying an additional 41 shares during the period. Commerce Bank grew its holdings in shares of Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after acquiring an additional 47 shares in the last quarter. Heritage Family Offices LLP increased its stake in shares of Aspen Technology by 2.8% in the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after acquiring an additional 47 shares during the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 58 shares in the last quarter. Finally, Kolinsky Wealth Management LLC boosted its position in Aspen Technology by 4.7% during the third quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock valued at $317,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analysts Set New Price Targets

AZPN has been the topic of several research reports. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Piper Sandler lifted their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. StockNews.com began coverage on shares of Aspen Technology in a report on Friday. They issued a “hold” rating for the company. Finally, Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $265.00 to $315.00 in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $272.00.

Aspen Technology Price Performance

Shares of AZPN opened at $264.33 on Tuesday. The company has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $277.37. The company’s fifty day moving average price is $261.31 and its 200 day moving average price is $248.36.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping 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%. Analysts anticipate 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.