New York State Teachers Retirement System Cuts Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

New York State Teachers Retirement System decreased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,053 shares of the technology company’s stock after selling 508 shares during the quarter. New York State Teachers Retirement System’s holdings in Aspen Technology were worth $5,983,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Aspen Technology by 38.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after purchasing an additional 153,897 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Aspen Technology during the third quarter worth about $290,880,000. Dimensional Fund Advisors LP increased its stake in shares of Aspen Technology by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after buying an additional 109,783 shares during the period. Clean Energy Transition LLP acquired a new stake in Aspen Technology in the first quarter valued at approximately $22,110,000. Finally, Capital Research Global Investors lifted its stake in Aspen Technology by 52.9% in the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after acquiring an additional 101,586 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of AZPN opened at $241.00 on Wednesday. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $248.00. The stock has a market cap of $15.24 billion, a PE ratio of -1,506.16, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76. The firm has a fifty day moving average price of $233.69 and a 200 day moving average price of $213.24.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The firm’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. As a group, equities analysts expect that Aspen Technology, Inc. will post 6.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the transaction, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AZPN. Robert W. Baird increased their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America lifted their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Loop Capital increased their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Aspen Technology has an average rating of “Moderate Buy” and an average target price of $253.00.

Aspen Technology Company 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.