Gabelli Funds LLC Grows Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Gabelli Funds LLC raised its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 199.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,617 shares of the technology company’s stock after purchasing an additional 3,739 shares during the period. Gabelli Funds LLC’s holdings in Aspen Technology were worth $1,402,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Bailard Inc. lifted its position in shares of Aspen Technology by 0.9% during the fourth quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock worth $1,134,000 after acquiring an additional 41 shares in the last quarter. Net Worth Advisory Group boosted its stake in Aspen Technology by 1.0% in the 4th quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after purchasing an additional 41 shares during the period. Bessemer Group Inc. increased its position in shares of Aspen Technology by 29.7% during the fourth quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock valued at $48,000 after buying an additional 44 shares during the period. Heritage Family Offices LLP lifted its holdings 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 buying an additional 47 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after acquiring an additional 58 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

Shares of AZPN opened at $264.33 on Friday. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $277.37. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. The firm has a 50 day moving average price of $264.42 and a 200-day moving average price of $253.96.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. As a group, equities research analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AZPN shares. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and boosted their target price for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. StockNews.com initiated coverage on Aspen Technology in a research report on Tuesday. They set a “hold” rating for the company. Piper Sandler raised their target price 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. Finally, Robert W. Baird reissued a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $272.00.

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.