Sone Capital Management LLC Purchases New Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Sone Capital Management LLC acquired a new stake in Aspen Technology, Inc. (NASDAQ:AZPN) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 26,100 shares of the technology company’s stock, valued at approximately $6,515,000.

Other large investors also recently modified their holdings of the company. Bailard Inc. lifted its holdings in shares of Aspen Technology by 0.9% during the fourth quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock valued at $1,134,000 after acquiring an additional 41 shares during the period. Net Worth Advisory Group increased its position in shares of Aspen Technology by 1.0% during the 4th quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after purchasing an additional 41 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Aspen Technology by 29.7% during the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock valued at $48,000 after purchasing an additional 44 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Aspen Technology by 4.0% during the 4th quarter. ProShare Advisors LLC now owns 1,501 shares of the technology company’s stock valued at $375,000 after purchasing an additional 58 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Aspen Technology by 4.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,415 shares of the technology company’s stock valued at $353,000 after buying an additional 65 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Piper Sandler lifted their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. StockNews.com assumed coverage on Aspen Technology in a research note on Saturday. They issued a “hold” rating for the company. Finally, Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $276.25.

Aspen Technology Stock Performance

NASDAQ:AZPN opened at $264.33 on Monday. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The stock’s fifty day moving average price is $264.34 and its two-hundred day moving average price is $258.07. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37.

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.