MML Investors Services LLC Increases Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

MML Investors Services LLC raised its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,838 shares of the technology company’s stock after purchasing an additional 62 shares during the quarter. MML Investors Services LLC’s holdings in Aspen Technology were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. XTX Topco Ltd acquired a new position in shares of Aspen Technology in the 3rd quarter valued at $1,554,000. Weiss Asset Management LP acquired a new position in shares of Aspen Technology in the third quarter valued at about $375,000. Quantinno Capital Management LP purchased a new position in shares of Aspen Technology in the third quarter worth about $377,000. Point72 DIFC Ltd acquired a new stake in shares of Aspen Technology during the third quarter worth about $518,000. Finally, Point72 Asset Management L.P. purchased a new stake in Aspen Technology in the third quarter valued at approximately $19,928,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

AZPN has been the subject of several research reports. Piper Sandler lifted their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com initiated coverage on shares of Aspen Technology in a report on Monday, December 16th. They issued a “hold” rating on the stock. Robert W. Baird lifted their price objective on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Bank of America upped their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Loop Capital boosted their price target on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Stock Up 0.7 %

Shares of Aspen Technology stock opened at $250.72 on Friday. The firm has a market cap of $15.86 billion, a PE ratio of -432.28, a P/E/G ratio of 2.89 and a beta of 0.76. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $254.44. The business has a 50-day moving average price of $244.92 and a 200 day moving average price of $222.69.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same period in the previous year, the company earned $0.96 earnings per share. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. On average, sell-side analysts expect that Aspen Technology, Inc. will post 6.68 EPS 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.