Sone Capital Management LLC Takes $6.52 Million Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Sone Capital Management LLC acquired a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,100 shares of the technology company’s stock, valued at approximately $6,515,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bailard Inc. raised its position in Aspen Technology by 0.9% during the fourth quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock valued at $1,134,000 after acquiring an additional 41 shares in the last quarter. Net Worth Advisory Group boosted its holdings in Aspen Technology by 1.0% in the fourth quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after purchasing an additional 41 shares in the last quarter. Bessemer Group Inc. increased its position in Aspen Technology by 29.7% during the fourth quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after buying an additional 44 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Aspen Technology by 4.0% in the fourth quarter. ProShare Advisors LLC now owns 1,501 shares of the technology company’s stock worth $375,000 after buying an additional 58 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Aspen Technology by 4.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,415 shares of the technology company’s stock worth $353,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

AZPN opened at $264.33 on Monday. The business has a 50 day moving average of $264.34 and a 200-day moving average of $258.07. The stock has a market capitalization of $16.73 billion, a price-to-earnings ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $277.37.

Analysts Set New Price Targets

AZPN has been the subject of several analyst reports. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Piper Sandler lifted their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, StockNews.com started coverage on shares of Aspen Technology in a research report on Saturday. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $276.25.

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.