Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 14.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,488 shares of the technology company’s stock after selling 258 shares during the quarter. Intech Investment Management LLC’s holdings in Aspen Technology were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AZPN. Charles Schwab Investment Management Inc. boosted its holdings in shares of Aspen Technology by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock valued at $42,524,000 after acquiring an additional 2,518 shares during the period. JPMorgan Chase & Co. boosted its stake in Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after purchasing an additional 171,351 shares during the period. Citigroup Inc. grew its position in Aspen Technology by 15.9% in the 3rd quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock worth $5,550,000 after purchasing an additional 3,186 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after purchasing an additional 632,545 shares during the period. Finally, Atomi Financial Group Inc. bought a new stake in shares of Aspen Technology during the fourth quarter valued at approximately $216,000. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Stock Performance

Shares of NASDAQ AZPN opened at $264.33 on Wednesday. The firm has a 50-day moving average of $262.95 and a two-hundred day moving average of $249.85. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share 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%. As a group, research analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Analyst Ratings Changes

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

Aspen Technology 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.