Bessemer Group Inc. Acquires 44 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Bessemer Group Inc. grew its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 29.7% in the 4th quarter, Holdings Channel reports. The fund owned 192 shares of the technology company’s stock after purchasing an additional 44 shares during the quarter. Bessemer Group Inc.’s holdings in Aspen Technology were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AZPN. Charles Schwab Investment Management Inc. boosted its holdings in Aspen Technology by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock valued at $42,524,000 after purchasing an additional 2,518 shares during the period. JPMorgan Chase & Co. grew its position in Aspen Technology by 89.2% during the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after buying an additional 171,351 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Aspen Technology by 37,990.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after acquiring an additional 632,545 shares during the period. Atomi Financial Group Inc. acquired a new position in Aspen Technology in the 4th quarter valued at approximately $216,000. Finally, Raymond James Financial Inc. acquired a new position in Aspen Technology in the 4th quarter valued at approximately $66,680,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Piper Sandler increased their price objective 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. 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. StockNews.com started coverage on Aspen Technology in a research report on Tuesday. They issued a “hold” rating on the stock. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $264.33 on Friday. The stock has a market capitalization of $16.73 billion, a P/E ratio of 3,304.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $277.37. The stock has a fifty day moving average of $264.44 and a 200-day moving average of $253.75.

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, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. Equities research analysts forecast that Aspen Technology, Inc. will post 6.7 earnings per share 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.