Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp lowered its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 22.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,288 shares of the technology company’s stock after selling 373 shares during the quarter. Cibc World Markets Corp’s holdings in Aspen Technology were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Aspen Technology during the fourth quarter valued at $26,000. Atala Financial Inc bought a new stake in Aspen Technology in the 4th quarter valued at about $44,000. Jones Financial Companies Lllp boosted its stake in Aspen Technology by 965.0% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after purchasing an additional 193 shares during the period. Blue Trust Inc. grew its position in Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after purchasing an additional 228 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares during the period. 45.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AZPN has been the subject of several analyst reports. StockNews.com initiated coverage on Aspen Technology in a research report on Saturday. They set a “hold” rating for the company. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Piper Sandler lifted their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Finally, Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $272.00.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $264.33 on Tuesday. The business’s 50-day moving average price is $262.67 and its 200 day moving average price is $249.57. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37. The firm has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Sell-side analysts expect that Aspen Technology, Inc. will post 6.7 EPS for the current year.

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.