International Assets Investment Management LLC Takes $31.31 Million Position in Aspen Technology, Inc. (NASDAQ:AZPN)

International Assets Investment Management LLC acquired a new position in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 142,217 shares of the technology company's stock, valued at approximately $31,309,000. International Assets Investment Management LLC owned 0.22% of Aspen Technology as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Toronto Dominion Bank lifted its holdings in Aspen Technology by 79,514.3% in the 3rd quarter. Toronto Dominion Bank now owns 5,573 shares of the technology company's stock valued at $1,138,000 after acquiring an additional 5,566 shares during the last quarter. Fiera Capital Corp lifted its holdings in Aspen Technology by 7.0% in the 3rd quarter. Fiera Capital Corp now owns 198,913 shares of the technology company's stock valued at $40,630,000 after acquiring an additional 13,009 shares during the last quarter. Nordea Investment Management AB lifted its stake in Aspen Technology by 12.9% during the third quarter. Nordea Investment Management AB now owns 1,044,959 shares of the technology company's stock valued at $215,920,000 after buying an additional 119,102 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in Aspen Technology during the fourth quarter valued at about $321,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Aspen Technology by 3.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,721,956 shares of the technology company's stock valued at $760,247,000 after buying an additional 124,934 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com raised shares of Aspen Technology from a "sell" rating to a "hold" rating in a research note on Wednesday, February 7th. Piper Sandler reaffirmed a "neutral" rating and set a $196.00 price objective on shares of Aspen Technology in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $210.25.

Aspen Technology Stock Down 1.6 %

Shares of AZPN traded down $3.39 during trading hours on Wednesday, reaching $209.97. The company's stock had a trading volume of 147,411 shares, compared to its average volume of 202,826. The firm has a market cap of $13.34 billion, a price-to-earnings ratio of -155.53, a P/E/G ratio of 2.15 and a beta of 0.77. Aspen Technology, Inc. has a 1-year low of $161.32 and a 1-year high of $247.96. The company has a 50 day moving average of $197.25 and a two-hundred day moving average of $196.45.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.06). The business had revenue of $257.16 million during the quarter, compared to analyst estimates of $259.70 million. Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. As a group, analysts forecast that Aspen Technology, Inc. will post 5.82 EPS for the current fiscal year.

Aspen Technology 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.