ClearBridge Investments, an investment management firm, published its “Mid Cap Strategy” first quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Mid Cap Strategy underperformed its Russell Midcap Index during the first quarter. On an absolute basis, the Strategy had losses across eight of the 11 sectors in which it was invested during the quarter. The leading detractors were the industrials and consumer discretionary sectors, while the leading contributor was the energy sector. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 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 $10.7 billion market capitalization. Aspen Technology, Inc. (NASDAQ:AZPN) delivered a 6.41% return since the beginning of the year, while its 12-month returns are up by 6.90%. The stock closed at $161.95 per share on April 14, 2022.
Here is what ClearBridge Investments Mid Cap Strategy has to say about Aspen Technology, Inc. (NASDAQ:AZPN) in its Q1 2022 investor letter:
“The Strategy’s IT holdings were a positive contributor during the quarter. This included companies such as Aspen Technology (NASDAQ:AZPN), a leader in asset optimization solutions and software for capital-intensive industrial industries. The increase in energy production provided a tailwind to the stock price, as the company’s software is utilized by many energy producers.”
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 22 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 20 funds in the previous quarter. (Company w/ Ticker) delivered a 7.46% return in the past 3 months.
In September 2021, we published an article that includes 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 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.