Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 37.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,802 shares of the technology company’s stock after selling 53,363 shares during the period. Sei Investments Co. owned about 0.14% of Aspen Technology worth $17,837,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund purchased a new position in Aspen Technology during the 1st quarter valued at about $1,487,000. DekaBank Deutsche Girozentrale grew its holdings in shares of 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 purchasing an additional 35,056 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Aspen Technology by 203.6% in the fourth quarter. Corient Private Wealth LLC now owns 8,094 shares of the technology company’s stock valued at $1,782,000 after purchasing an additional 5,428 shares in the last quarter. Polen Capital Management LLC increased its stake in Aspen Technology by 47.7% during the 4th quarter. Polen Capital Management LLC now owns 11,117 shares of the technology company’s stock worth $2,447,000 after buying an additional 3,588 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in Aspen Technology by 17.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 7,553 shares of the technology company’s stock valued at $1,663,000 after buying an additional 1,100 shares during the period. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Stock Performance

NASDAQ:AZPN opened at $228.70 on Thursday. Aspen Technology, Inc. has a 1 year low of $162.26 and a 1 year high of $240.82. The stock has a market cap of $14.48 billion, a P/E ratio of -519.77, a P/E/G ratio of 2.73 and a beta of 0.75. The stock has a 50-day simple moving average of $212.68 and a 200-day simple moving average of $206.85.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $1.88 by $0.49. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The company had revenue of $342.91 million for the quarter, compared to analyst estimates of $319.10 million. During the same period in the prior year, the firm posted $1.87 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Aspen Technology, Inc. will post 6.53 EPS for the current year.

Insider Activity at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the completion of the transaction, the director now owns 8,540 shares in the company, valued at $1,871,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

AZPN has been the topic of a number of recent research reports. Loop Capital upped their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Bank of America upped their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Robert W. Baird lifted their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler upped their target price on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Aspen Technology currently has a consensus rating of “Moderate Buy” and an average price target of $248.40.

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.