Heritage Family Offices LLP Grows Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Heritage Family Offices LLP boosted its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,725 shares of the technology company’s stock after acquiring an additional 47 shares during the period. Heritage Family Offices LLP’s holdings in Aspen Technology were worth $431,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in shares of Aspen Technology during the second quarter valued at approximately $110,000. American Century Companies Inc. raised its stake in Aspen Technology by 1.9% during the second quarter. American Century Companies Inc. now owns 12,715 shares of the technology company’s stock valued at $2,526,000 after buying an additional 234 shares during the last quarter. Federated Hermes Inc. raised its stake in Aspen Technology by 29.8% during the second quarter. Federated Hermes Inc. now owns 3,077 shares of the technology company’s stock valued at $611,000 after buying an additional 707 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Aspen Technology by 10.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,095 shares of the technology company’s stock worth $218,000 after acquiring an additional 105 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Aspen Technology by 4.0% in the second quarter. Envestnet Asset Management Inc. now owns 182,152 shares of the technology company’s stock worth $36,181,000 after acquiring an additional 7,078 shares during the last quarter. Institutional investors own 45.66% of the company’s stock.

Analyst Ratings Changes

AZPN has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler lifted their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Bank of America increased their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Loop Capital boosted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, StockNews.com began coverage on Aspen Technology in a research note on Thursday, January 9th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $258.00.

Aspen Technology Stock Performance

Shares of Aspen Technology stock opened at $250.75 on Thursday. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $254.44. The company’s 50 day moving average is $249.54 and its 200 day moving average is $229.15.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. During the same period in the previous year, the company earned $0.96 earnings per share. Aspen Technology’s quarterly revenue was down 13.4% compared to the same quarter last year. Equities analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

About Aspen Technology

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.