Polar Asset Management Partners Inc. Purchases New Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Polar Asset Management Partners Inc. acquired a new position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,000 shares of the technology company’s stock, valued at approximately $1,248,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZPN. Barclays PLC grew its holdings in shares of Aspen Technology by 23.6% in the third quarter. Barclays PLC now owns 79,418 shares of the technology company’s stock valued at $18,966,000 after purchasing an additional 15,176 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Aspen Technology in the 4th quarter valued at about $228,000. Avanza Fonder AB purchased a new stake in shares of Aspen Technology in the 4th quarter valued at approximately $424,000. Mitchell & Pahl Private Wealth LLC grew its stake in shares of Aspen Technology by 6.4% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 2,964 shares of the technology company’s stock valued at $740,000 after buying an additional 179 shares during the period. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Aspen Technology during the 4th quarter worth approximately $216,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Performance

Shares of AZPN opened at $264.33 on Friday. The company’s 50-day simple moving average is $264.34 and its 200-day simple moving average is $257.79. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37. The stock has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

Analyst Ratings Changes

AZPN has been the topic of a number of recent analyst reports. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $265.00 to $315.00 in a report on Monday, February 10th. 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. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Saturday. They issued a “hold” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, Piper Sandler lifted their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $272.00.

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.