Twin Securities Inc. Makes New Investment in Aspen Technology, Inc. (NASDAQ:AZPN)

Twin Securities Inc. purchased a new position in Aspen Technology, Inc. (NASDAQ:AZPN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,132 shares of the technology company’s stock, valued at approximately $10,517,000. Aspen Technology accounts for 6.2% of Twin Securities Inc.’s investment portfolio, making the stock its 8th largest position. Twin Securities Inc. owned approximately 0.07% of Aspen Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Sculptor Capital LP bought a new position in shares of Aspen Technology in the fourth quarter worth $9,296,000. Siemens Fonds Invest GmbH bought a new position in shares of Aspen Technology in the fourth quarter worth $2,728,000. Sona Asset Management US LLC bought a new position in shares of Aspen Technology in the fourth quarter worth $8,895,000. Royal Bank of Canada increased its position in shares of Aspen Technology by 77.5% in the fourth quarter. Royal Bank of Canada now owns 170,263 shares of the technology company’s stock worth $42,502,000 after purchasing an additional 74,333 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Aspen Technology in the fourth quarter worth $1,248,000. Institutional investors own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AZPN. Robert W. Baird restated a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a research note on Saturday. They issued a “hold” rating on the stock. Piper Sandler raised their price objective on 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 lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $276.25.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $264.33 on Friday. The business’s 50-day moving average price is $264.34 and its 200-day moving average price is $257.91. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37. The firm has a market capitalization 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.

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.