Louisiana State Employees Retirement System Has $1.43 Million Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Posted by Defense World Staff on Oct 4th, 2023

Louisiana State Employees Retirement System lifted its holdings in Aspen Technology, Inc. (NASDAQ:AZPN – Free Report) by 10.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,500 shares of the technology company’s stock after acquiring an additional 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Aspen Technology were worth $1,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AZPN. Vanguard Group Inc. acquired a new position in shares of Aspen Technology in the 3rd quarter worth approximately $662,551,000. Moneta Group Investment Advisors LLC lifted its holdings in Aspen Technology by 103,662.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,567,858 shares of the technology company’s stock worth $322,038,000 after buying an additional 1,566,347 shares in the last quarter. BlackRock Inc. lifted its holdings in Aspen Technology by 26.6% during the 1st quarter. BlackRock Inc. now owns 4,820,843 shares of the technology company’s stock worth $1,103,346,000 after buying an additional 1,013,697 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Aspen Technology by 19.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,597,094 shares of the technology company’s stock worth $823,267,000 after buying an additional 585,945 shares in the last quarter. Finally, Norges Bank acquired a new position in Aspen Technology during the 4th quarter worth $77,022,000. 43.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AZPN shares. Loop Capital upped their price objective on Aspen Technology from $170.00 to $180.00 in a report on Wednesday, August 2nd. KeyCorp restated a “sector weight” rating on shares of Aspen Technology in a research report on Wednesday, July 26th. StockNews.com assumed coverage on shares of Aspen Technology in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Piper Sandler upped their price objective on shares of Aspen Technology from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Robert W. Baird upped their price objective on shares of Aspen Technology from $184.00 to $194.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $198.80.

Check Out Our Latest Analysis on Aspen Technology

Aspen Technology Trading Down 1.7 %

AZPN stock opened at $199.83 on Wednesday. The stock has a 50-day moving average price of $193.49 and a two-hundred day moving average price of $188.57. The stock has a market cap of $12.87 billion, a PE ratio of -120.38, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Aspen Technology, Inc. has a 1 year low of $161.32 and a 1 year high of $263.59.

Aspen Technology (NASDAQ:AZPN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.07). Aspen Technology had a positive return on equity of 2.32% and a negative net margin of 10.32%. The business had revenue of $320.64 million for the quarter, compared to analyst estimates of $324.78 million. On average, analysts forecast that Aspen Technology, Inc. will post 5.41 earnings per share for the current fiscal year.

Aspen Technology Profile

(Free Report)

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.