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

Corient Private Wealth LLC cut its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 26.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AZPN. SBI Securities Co. Ltd. bought a new position in shares of Aspen Technology in the fourth quarter worth $26,000. Atala Financial Inc bought a new position in Aspen Technology in the 4th quarter valued at about $44,000. Jones Financial Companies Lllp increased its stake in Aspen Technology by 965.0% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after buying an additional 193 shares during the period. Blue Trust Inc. raised its position in shares of Aspen Technology by 5,700.0% during the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 228 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after acquiring an additional 58 shares during the period. 45.66% of the stock is owned by institutional investors.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $264.33 on Wednesday. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The business has a fifty day simple moving average of $262.95 and a 200-day simple moving average of $249.85.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, beating 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 Analyst Weigh In

A number of research analysts recently commented on the stock. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. StockNews.com began coverage on Aspen Technology in a research note on Saturday. They set a “hold” rating for the company. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Piper Sandler raised their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research 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 company’s stock. Based on data from MarketBeat.com, Aspen Technology presently has an average rating of “Hold” and a consensus target price of $272.00.

About Aspen Technology

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.