Aspen Technology, Inc. (NASDAQ:AZPN) Stake Reduced by Two Creeks Capital Management LP

Two Creeks Capital Management LP decreased its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,899 shares of the technology company’s stock after selling 11,979 shares during the period. Aspen Technology makes up 2.8% of Two Creeks Capital Management LP’s portfolio, making the stock its 18th biggest holding. Two Creeks Capital Management LP’s holdings in Aspen Technology were worth $45,407,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in Aspen Technology during the 4th quarter worth approximately $26,000. Atala Financial Inc acquired a new position in Aspen Technology during the fourth quarter worth $44,000. Bessemer Group Inc. raised its stake in shares of Aspen Technology by 29.7% in the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock valued at $48,000 after acquiring an additional 44 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Aspen Technology by 965.0% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after purchasing an additional 193 shares during the period. Finally, Blue Trust Inc. raised its holdings in Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after acquiring an additional 228 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of research analyst reports. Piper Sandler upped their price target on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. StockNews.com began coverage on Aspen Technology in a report on Wednesday. They set a “hold” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Finally, Loop Capital upgraded shares of 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 report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $272.00.

Aspen Technology Stock Performance

AZPN opened at $264.33 on Wednesday. The company has a fifty day moving average price of $264.40 and a two-hundred day moving average price of $254.47. The firm has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $277.37.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Equities analysts forecast that Aspen Technology, Inc. will post 6.7 EPS for the current year.

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.