Captrust Financial Advisors Sells 224 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Captrust Financial Advisors lowered its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 11.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,666 shares of the technology company’s stock after selling 224 shares during the quarter. Captrust Financial Advisors’ holdings in Aspen Technology were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZPN. Kayne Anderson Rudnick Investment Management LLC grew its position in Aspen Technology by 1.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after buying an additional 65,143 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Aspen Technology by 5.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock worth $139,156,000 after purchasing an additional 28,820 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Aspen Technology by 38.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after purchasing an additional 153,897 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Aspen Technology by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after purchasing an additional 109,783 shares during the period. Finally, Fiera Capital Corp increased its position in Aspen Technology by 3.8% in the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after buying an additional 12,500 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird increased their target price on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America boosted their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Loop Capital lifted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $258.00.

Aspen Technology Price Performance

Shares of NASDAQ:AZPN opened at $248.80 on Friday. The firm has a fifty day moving average price of $243.53 and a two-hundred day moving average price of $221.28. The company has a market cap of $15.74 billion, a price-to-earnings ratio of -428.97, a PEG ratio of 2.89 and a beta of 0.76. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $254.44.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data 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 business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. Aspen Technology’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. Equities research analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

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.