Aspen Technology, Inc. (NASDAQ:AZPN) Stake Lowered by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,362 shares of the technology company’s stock after selling 2,280 shares during the period. Corient Private Wealth LLC’s holdings in Aspen Technology were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in shares of Aspen Technology by 37,990.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after purchasing an additional 632,545 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Aspen Technology in the fourth quarter worth about $66,680,000. JPMorgan Chase & Co. boosted its position in Aspen Technology by 89.2% during the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after purchasing an additional 171,351 shares during the period. Amundi raised its position in shares of Aspen Technology by 345.7% in the fourth quarter. Amundi now owns 142,897 shares of the technology company’s stock valued at $35,874,000 after purchasing an additional 110,838 shares during the period. Finally, American Capital Management Inc. lifted its position in Aspen Technology by 116.9% during the 3rd quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock worth $46,635,000 after acquiring an additional 105,254 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Aspen Technology Stock Performance

Shares of AZPN stock opened at $264.33 on Wednesday. The stock’s fifty day moving average is $262.95 and its 200-day moving average is $249.85. The stock has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $277.37.

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