Lighthouse Investment Partners LLC Reduces Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Lighthouse Investment Partners LLC trimmed its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 83.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,774 shares of the technology company’s stock after selling 9,226 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Aspen Technology were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AZPN. Charles Schwab Investment Management Inc. increased its stake in Aspen Technology by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock worth $42,524,000 after purchasing an additional 2,518 shares during the period. Atomi Financial Group Inc. bought a new position in shares of Aspen Technology in the fourth quarter worth about $216,000. Assenagon Asset Management S.A. increased its stake in Aspen Technology by 37,990.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after buying an additional 632,545 shares during the period. Raymond James Financial Inc. purchased a new position in Aspen Technology in the 4th quarter worth about $66,680,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Aspen Technology during the 4th quarter valued at about $228,000. 45.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AZPN has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Friday, May 9th. They issued a “hold” rating on the stock. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Piper Sandler lifted their target price on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Five equities research 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, Aspen Technology presently has an average rating of “Hold” and an average target price of $272.00.

Aspen Technology Stock Performance

NASDAQ:AZPN opened at $264.33 on Thursday. The firm has a 50-day simple moving average of $264.34 and a 200-day simple moving average of $257.45. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $277.37. The firm has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

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.