Hedge Funds Are Crazy About Aspen Technology, Inc. (AZPN)

As one would reasonably expect, key money managers were leading the bulls’ herd. Balyasny Asset Management, managed by Dmitry Balyasny, established the most valuable call position in Aspen Technology, Inc. (NASDAQ:AZPN). Balyasny Asset Management had $3.8 million invested in the company at the end of the quarter. Lee Munder’s Lee Munder Capital Group also initiated a $2.7 million position during the quarter. The other funds with brand new Aspen Technology, Inc. (NASDAQ:AZPN) positions are Neil Chriss’ Hutchin Hill Capital, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital.

Let’s also examine hedge fund activity in other stocks similar to Aspen Technology, Inc. (NASDAQ:AZPN). These stocks are VeriFone Systems Inc (NYSE:PAY), New Oriental Education & Tech Grp (ADR) (NYSE:EDU), Elbit Systems Ltd. (USA) (NASDAQ:ESLT), and Post Properties Inc (NYSE:PPS). This group of stocks’ market valuations are closest to Aspen Technology, Inc. (NASDAQ:AZPN)’s market valuation.

As you can see, these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $125 million. That figure was $478 million in Aspen Technology, Inc. (NASDAQ:AZPN)’s case. VeriFone Systems Inc (NYSE:PAY) is the most popular stock in this table. On the other hand, Elbit Systems Ltd. (USA) (NASDAQ:ESLT) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks, Aspen Technology, Inc. (NASDAQ:AZPN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.