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

Intech Investment Management LLC lessened its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Bailard Inc. lifted its position in Aspen Technology by 0.9% during the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock worth $1,134,000 after acquiring an additional 41 shares in the last quarter. Net Worth Advisory Group lifted its position in shares of Aspen Technology by 1.0% during the fourth quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after purchasing an additional 41 shares in the last quarter. Commerce Bank lifted its position in shares of Aspen Technology by 3.1% during the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares in the last quarter. Heritage Family Offices LLP boosted its stake in shares of Aspen Technology by 2.8% in the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after purchasing an additional 47 shares during the period. Finally, GAMMA Investing LLC increased its stake in Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $264.33 on Wednesday. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $277.37. The company has a market cap of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The business’s 50 day moving average is $262.95 and its two-hundred day moving average is $249.85.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data 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%. As a group, sell-side analysts expect that Aspen Technology, Inc. will post 6.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZPN. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. StockNews.com assumed coverage on Aspen Technology in a research report on Saturday. They issued a “hold” rating on the stock. Robert W. Baird reissued a “neutral” rating and set a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, Piper Sandler upped 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. 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 has an average rating of “Hold” and an average price target of $272.00.

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.