Nisa Investment Advisors LLC Cuts Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Nisa Investment Advisors LLC decreased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 25.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 307 shares of the technology company’s stock after selling 103 shares during the period. Nisa Investment Advisors LLC’s holdings in Aspen Technology were worth $73,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund purchased a new position in Aspen Technology in the first quarter valued at approximately $1,487,000. DekaBank Deutsche Girozentrale raised its holdings in Aspen Technology by 1,034.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock valued at $7,895,000 after buying an additional 35,056 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new position in Aspen Technology in the second quarter valued at approximately $3,042,000. TimesSquare Capital Management LLC grew its position in Aspen Technology by 8.1% in the first quarter. TimesSquare Capital Management LLC now owns 208,585 shares of the technology company’s stock valued at $44,487,000 after acquiring an additional 15,685 shares in the last quarter. Finally, Capital Research Global Investors grew its position 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 valued at $62,657,000 after acquiring an additional 101,586 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Insider Buying and Selling

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now directly owns 8,540 shares in the company, valued at $1,871,114. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AZPN. Loop Capital increased their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Piper Sandler increased their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday. 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. Finally, Bank of America increased their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.00.

Aspen Technology Trading Up 0.7 %

AZPN stock opened at $245.97 on Friday. Aspen Technology, Inc. has a twelve month low of $162.26 and a twelve month high of $249.00. The company has a market capitalization of $15.56 billion, a P/E ratio of -424.09, a PEG ratio of 2.77 and a beta of 0.76. The firm has a 50 day simple moving average of $234.52 and a 200-day simple moving average of $213.68.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The company had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same period in the previous year, the business posted $0.96 EPS. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. On average, research analysts predict that Aspen Technology, Inc. will post 6.53 EPS for the current year.

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.