Kornitzer Capital Management Inc. KS Lowers Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Kornitzer Capital Management Inc. KS reduced its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,326 shares of the technology company’s stock after selling 442 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.07% of Aspen Technology worth $11,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZPN. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 228 shares during the period. GAMMA Investing LLC raised its holdings in Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after buying an additional 58 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Aspen Technology by 126.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock valued at $68,000 after buying an additional 151 shares during the period. Anchor Investment Management LLC acquired a new position in shares of Aspen Technology during the 3rd quarter valued at $77,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aspen Technology in the third quarter worth about $116,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Ratings Changes

AZPN has been the topic of a number of recent analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler increased their target price on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $272.00.

Aspen Technology Trading Down 0.0 %

AZPN stock opened at $264.78 on Tuesday. The stock’s 50 day simple moving average is $255.65 and its 200 day simple moving average is $240.54. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The firm has a market cap of $16.76 billion, a P/E ratio of 3,310.16, a P/E/G ratio of 3.03 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, topping 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%. On average, research analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal 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.