Quantinno Capital Management LP Invests $377,000 in Aspen Technology, Inc. (NASDAQ:AZPN)

Quantinno Capital Management LP acquired a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,579 shares of the technology company’s stock, valued at approximately $377,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZPN. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Aspen Technology by 1.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after buying an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Aspen Technology by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after acquiring an additional 28,820 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Aspen Technology by 26.5% in the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after acquiring an additional 109,783 shares in the last quarter. Fiera Capital Corp grew its holdings in Aspen Technology by 3.8% in the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Aspen Technology by 5.9% during the third quarter. Raymond James & Associates now owns 281,961 shares of the technology company’s stock worth $67,338,000 after purchasing an additional 15,744 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZPN. StockNews.com initiated coverage on Aspen Technology in a research note on Monday. They set a “hold” rating on the stock. Robert W. Baird boosted their price target on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler upped their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Loop Capital lifted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Stock Down 0.9 %

Shares of NASDAQ AZPN opened at $248.80 on Monday. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $254.44. The business’s 50 day moving average price is $243.53 and its 200 day moving average price is $221.36. The firm has a market cap of $15.74 billion, a P/E ratio of -428.97, a P/E/G ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). The business had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm’s revenue was down 13.4% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. As a group, research analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share for the current 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.