Is it a Good Choice to Invest in Aspen Technology (AZPN)?

ClearBridge Investments, an investment management firm, published its “Mid Cap  Strategy” third-quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Mid Cap Strategy underperformed its Russell Midcap Index during the third quarter. On an absolute basis, the Strategy had losses across 10 of the 11 sectors in which it was invested during the quarter. The leading detractors were the health care, financials and consumer discretionary sectors, while the industrials sector was the sole positive contributor.. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, ClearBridge Investments Mid Cap Strategy mentioned Aspen Technology, Inc. (NASDAQ:AZPN) and explained its insights for the company. Founded in 1981, Aspen Technology, Inc. (NASDAQ:AZPN) is a Bedford, Massachusetts-based software company with a $15.4 billion market capitalization. Aspen Technology, Inc. (NASDAQ:AZPN) delivered a -3.97% return and it closed at $239.86 per share on November 18, 2022.

Here is what ClearBridge Investments Mid Cap Strategy  has to say about Aspen Technology, Inc. (NASDAQ:AZPN) in its Q3 2022 investor letter:

“Our IT holdings also positively contributed to relative performance versus the benchmark. Aspen Technology (NASDAQ:AZPN), which develops software to optimize manufacturing operations and supply chain functions particularly within the energy industry, benefited from strong global energy demand, particularly in Europe.”

Our calculations show that Aspen Technology, Inc. (NASDAQ:AZPN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Aspen Technology, Inc. (NASDAQ:AZPN) was in 17 hedge fund portfolios at the end of the second quarter of 2022, compared to 18 funds in the previous quarter. Aspen Technology, Inc. (NASDAQ:AZPN) delivered a 11.50% return in the past 3 months.

In November 2022, we also shared another hedge fund’s views on Aspen Technology, Inc. (NASDAQ:AZPN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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Disclosure: None. This article is originally published at Insider Monkey.