Nuveen Asset Management LLC Increases Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Nuveen Asset Management LLC increased its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 42.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 124,398 shares of the technology company’s stock after acquiring an additional 37,220 shares during the quarter. Nuveen Asset Management LLC’s holdings in Aspen Technology were worth $31,053,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Aspen Technology in the 4th quarter worth $26,000. Atala Financial Inc purchased a new stake in Aspen Technology in the 4th quarter worth $44,000. Bessemer Group Inc. increased its holdings in Aspen Technology by 29.7% in the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after acquiring an additional 44 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Aspen Technology by 965.0% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock worth $53,000 after acquiring an additional 193 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Aspen Technology by 5,700.0% during the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

AZPN stock opened at $264.33 on Thursday. The business has a 50 day simple moving average of $264.33 and a 200-day simple moving average of $258.36. The firm has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a price-to-earnings-growth 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.

Analyst Ratings Changes

Several equities research analysts have commented on AZPN shares. Robert W. Baird reiterated a “neutral” rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Loop Capital upgraded 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. Piper Sandler boosted their price objective on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. StockNews.com began coverage on shares of Aspen Technology in a report on Saturday, May 17th. They set a “hold” rating for the company. Finally, Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $276.25.

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.