Nichols & Pratt Advisers LLP MA Boosts Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Nichols & Pratt Advisers LLP MA raised its stake in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,667 shares of the technology company's stock after purchasing an additional 8,689 shares during the quarter. Nichols & Pratt Advisers LLP MA's holdings in Aspen Technology were worth $5,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of Aspen Technology by 94.4% during the 3rd quarter. Fifth Third Bancorp now owns 350 shares of the technology company's stock worth $71,000 after acquiring an additional 170 shares in the last quarter. Signaturefd LLC grew its holdings in Aspen Technology by 152.3% in the third quarter. Signaturefd LLC now owns 497 shares of the technology company's stock worth $102,000 after purchasing an additional 300 shares during the period. Quantum Private Wealth LLC acquired a new stake in shares of Aspen Technology in the 3rd quarter valued at about $202,000. Austin Private Wealth LLC acquired a new stake in Aspen Technology in the fourth quarter valued at approximately $202,000. Finally, Wealth Alliance acquired a new position in shares of Aspen Technology during the third quarter valued at about $216,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AZPN shares. Robert W. Baird dropped their price objective on Aspen Technology from $225.00 to $210.00 and set an "outperform" rating on the stock in a research note on Wednesday. Piper Sandler dropped their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, StockNews.com upgraded Aspen Technology from a "sell" rating to a "hold" rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $201.00.

Aspen Technology Stock Up 1.5 %

Shares of NASDAQ:AZPN traded up $3.14 during trading on Friday, hitting $209.08. The stock had a trading volume of 317,275 shares, compared to its average volume of 215,221. Aspen Technology, Inc. has a 12 month low of $161.32 and a 12 month high of $224.77. The company has a market capitalization of $13.29 billion, a PE ratio of -152.55, a PEG ratio of 2.05 and a beta of 0.76. The firm's fifty day moving average is $202.77 and its 200 day moving average is $196.51.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $257.16 million during the quarter, compared to analysts' expectations of $259.70 million. Aspen Technology had a positive return on equity of 2.38% and a negative net margin of 8.17%. Equities research analysts expect that Aspen Technology, Inc. will post 5.82 EPS for the current fiscal 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.