Where Do Hedge Funds Stand On Aspen Technology (AZPN)?

Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund underperformed its benchmark, the Russell 2500 Growth Index, and returned -28.35% net of fees. Poor performance of consumer discretionary and financials sectors impacted the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

In the second quarter 2022 investor letter, Polen Capital discussed stocks like Aspen Technology, Inc. (NASDAQ:AZPN). Headquartered in Bedford, Massachusetts, Aspen Technology, Inc. (NASDAQ:AZPN) is an asset management software provider. On September 28, 2022, Aspen Technology, Inc. (NASDAQ:AZPN) stock closed at $239.65 per share. One-month return of Aspen Technology, Inc. (NASDAQ:AZPN) was 15.16% and its shares gained 30.47% of their value over the last 3 months. Aspen Technology, Inc. (NASDAQ:AZPN) has a market capitalization of $14.899 billion.

Here is what Polen Capital specifically said about Aspen Technology, Inc. (NASDAQ:AZPN) in its Q2 2022 investor letter:

“Aspen Technology, Inc. (NASDAQ:AZPN) is a global leader in asset optimization software helping companies run their operations more safely, efficiently and reliably. Its customers are largely in the energy, chemicals, metals, and other cyclical or commodity-based industries. Given some of its end market exposures, the company reported an improving demand environment after working through a more challenging backdrop during the pandemic. Longer term, the company’s growth is driven by the imperative to adopt more efficient technologies and innovation in their end markets, and we see a continued tailwind from that looking ahead.”

Source: PEXELS

Aspen Technology, Inc. (NASDAQ:AZPN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Aspen Technology, Inc. (NASDAQ:AZPN) at the end of the second quarter which was 22 in the previous quarter.

We discussed Aspen Technology, Inc. (NASDAQ:AZPN) in another article and shared Polen Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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