California Public Employees Retirement System Boosts Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Posted by Defense World Staff on May 11th, 2023

California Public Employees Retirement System raised its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,357 shares of the technology company’s stock after acquiring an additional 1,685 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Aspen Technology worth $26,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Aspen Technology by 243.5% during the 4th quarter. Signaturefd LLC now owns 158 shares of the technology company’s stock worth $32,000 after purchasing an additional 112 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in Aspen Technology during the third quarter worth $33,000. Altshuler Shaham Ltd purchased a new position in Aspen Technology during the third quarter valued at $37,000. CWM LLC raised its position in shares of Aspen Technology by 163.9% in the third quarter. CWM LLC now owns 190 shares of the technology company’s stock valued at $45,000 after buying an additional 118 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Aspen Technology during the third quarter worth about $47,000. Hedge funds and other institutional investors own 44.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AZPN. StockNews.com assumed coverage on shares of Aspen Technology in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Piper Sandler reduced their target price on Aspen Technology from $240.00 to $195.00 and set a “neutral” rating for the company in a report on Thursday, January 26th. KeyCorp decreased their target price on Aspen Technology from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, April 27th. Loop Capital reduced their target price on Aspen Technology from $270.00 to $240.00 in a research note on Thursday, April 27th. Finally, Robert W. Baird reduced their price target on Aspen Technology from $224.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, January 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Aspen Technology has an average rating of “Hold” and an average target price of $217.83.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $169.83 on Thursday. Aspen Technology, Inc. has a 12 month low of $156.93 and a 12 month high of $263.59. The company has a 50-day simple moving average of $211.55 and a 200-day simple moving average of $214.98. The company has a market cap of $11.02 billion, a PE ratio of -178.77, a price-to-earnings-growth ratio of 2.37 and a beta of 0.94.

About Aspen Technology

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Aspen Technology together with its subsidiaries develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes. Its software applications utilize proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.