Royal Bank of Canada Increases Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Royal Bank of Canada lifted its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 77.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,263 shares of the technology company’s stock after acquiring an additional 74,333 shares during the quarter. Royal Bank of Canada owned 0.27% of Aspen Technology worth $42,502,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Aspen Technology by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock worth $42,524,000 after acquiring an additional 2,518 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Aspen Technology during the 4th quarter worth approximately $216,000. Raymond James Financial Inc. acquired a new position in shares of Aspen Technology during the 4th quarter worth approximately $66,680,000. Jones Financial Companies Lllp raised its position in shares of Aspen Technology by 965.0% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock worth $53,000 after purchasing an additional 193 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Aspen Technology during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of AZPN stock opened at $264.33 on Thursday. 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 P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The company’s fifty day moving average price is $264.33 and its two-hundred day moving average price is $258.36.

Wall Street Analyst Weigh In

AZPN has been the subject of several research reports. 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. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price target (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Piper Sandler upped their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, StockNews.com started coverage on shares of Aspen Technology in a research report on Saturday, May 17th. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $276.25.

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.