Intech Investment Management LLC Lowers Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Intech Investment Management LLC reduced its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 7.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,746 shares of the technology company’s stock after selling 150 shares during the period. Intech Investment Management LLC’s holdings in Aspen Technology were worth $417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tortoise Investment Management LLC lifted its stake in Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Mather Group LLC. boosted its position in shares of Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after buying an additional 130 shares in the last quarter. Crewe Advisors LLC increased its stake in shares of Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology during the second quarter valued at approximately $37,000. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AZPN has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Aspen Technology in a report on Saturday. They set a “hold” rating for the company. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler upped their price objective on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Aspen Technology presently has an average rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Trading Down 0.7 %

NASDAQ:AZPN opened at $248.34 on Tuesday. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of -428.17, a PEG ratio of 2.85 and a beta of 0.76. The business’s fifty day moving average price is $240.69 and its 200 day moving average price is $219.38. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $254.04.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.54). The company had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business’s revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 EPS. Equities analysts forecast that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

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.