Sona Asset Management US LLC Acquires Shares of 35,631 Aspen Technology, Inc. (NASDAQ:AZPN)

Sona Asset Management US LLC bought a new position in Aspen Technology, Inc. (NASDAQ:AZPN) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 35,631 shares of the technology company’s stock, valued at approximately $8,895,000.

Several other hedge funds and other institutional investors also recently modified their holdings of AZPN. Royal Bank of Canada grew its holdings in Aspen Technology by 77.5% during the 4th quarter. Royal Bank of Canada now owns 170,263 shares of the technology company’s stock valued at $42,502,000 after buying an additional 74,333 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Aspen Technology in the 4th quarter worth approximately $1,248,000. ProShare Advisors LLC lifted its stake in Aspen Technology by 4.0% in the 4th quarter. ProShare Advisors LLC now owns 1,501 shares of the technology company’s stock worth $375,000 after purchasing an additional 58 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Aspen Technology by 34.4% during the 4th quarter. Quantinno Capital Management LP now owns 2,122 shares of the technology company’s stock valued at $530,000 after purchasing an additional 543 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of Aspen Technology by 1,400.4% in the fourth quarter. Man Group plc now owns 110,293 shares of the technology company’s stock worth $27,532,000 after purchasing an additional 102,942 shares during the period. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $264.33 on Friday. The company’s fifty day moving average price is $264.34 and its 200-day moving average price is $257.62. The stock has a market cap of $16.73 billion, a PE 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 12 month low of $171.25 and a 12 month high of $277.37.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AZPN shares. Piper Sandler lifted their price target on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report 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 assumed coverage on shares of Aspen Technology in a report on Friday, May 9th. They issued a “hold” rating on the stock. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Finally, Robert W. Baird restated a “neutral” rating and set a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Aspen Technology presently has an average rating of “Hold” and an average price target of $272.00.

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.