Bayesian Capital Management LP Makes New Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

Bayesian Capital Management LP purchased a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,674 shares of the technology company’s stock, valued at approximately $357,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its holdings in Aspen Technology by 3.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,864 shares of the technology company’s stock valued at $410,000 after purchasing an additional 63 shares during the last quarter. State of Michigan Retirement System increased its holdings in Aspen Technology by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 8,607 shares of the technology company’s stock valued at $1,895,000 after purchasing an additional 300 shares during the last quarter. Boston Trust Walden Corp increased its holdings in Aspen Technology by 5.5% in the 4th quarter. Boston Trust Walden Corp now owns 20,329 shares of the technology company’s stock valued at $4,475,000 after purchasing an additional 1,065 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Aspen Technology in the fourth quarter worth $31,309,000. Finally, ABLE Financial Group LLC grew its stake in shares of Aspen Technology by 30.8% in the fourth quarter. ABLE Financial Group LLC now owns 5,390 shares of the technology company’s stock worth $1,187,000 after acquiring an additional 1,268 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AZPN. Robert W. Baird restated an “outperform” rating and issued a $230.00 price target on shares of Aspen Technology in a research note on Friday, June 14th. Berenberg Bank upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $255.00 in a research note on Friday, May 17th. William Blair upgraded shares of Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Finally, Piper Sandler decreased their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Aspen Technology has an average rating of “Moderate Buy” and an average target price of $219.50.

Aspen Technology Stock Down 1.0 %

Aspen Technology stock opened at $187.95 on Thursday. The company has a fifty day simple moving average of $199.27 and a 200-day simple moving average of $199.85. Aspen Technology, Inc. has a 12-month low of $162.26 and a 12-month high of $224.77.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.39. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. The business had revenue of $278.11 million during the quarter, compared to analysts’ expectations of $251.65 million. On average, equities research analysts expect that Aspen Technology, Inc. will post 5.52 earnings per share 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.