Envestnet Portfolio Solutions Inc. Sells 1,149 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 19.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,875 shares of the technology company’s stock after selling 1,149 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Aspen Technology were worth $1,217,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AZPN. Atala Financial Inc bought a new stake in Aspen Technology during the fourth quarter worth about $44,000. Impact Capital Partners LLC acquired a new position in shares of Aspen Technology in the 4th quarter valued at approximately $1,009,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Aspen Technology by 6.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 7,763 shares of the technology company’s stock worth $1,933,000 after acquiring an additional 484 shares during the period. Vestcor Inc increased its stake in Aspen Technology by 2,238.8% in the fourth quarter. Vestcor Inc now owns 15,670 shares of the technology company’s stock valued at $3,912,000 after acquiring an additional 15,000 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in Aspen Technology by 5.1% in the fourth quarter. HighTower Advisors LLC now owns 3,386 shares of the technology company’s stock valued at $845,000 after acquiring an additional 165 shares during the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Aspen Technology Price Performance

Aspen Technology stock opened at $264.33 on Friday. The business has a 50 day moving average of $262.36 and a 200-day moving average of $249.17. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37. The company has a market capitalization of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Equities analysts anticipate that Aspen Technology, Inc. will post 6.7 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.