Atria Investments Inc Reduces Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Atria Investments Inc lessened its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 7.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,861 shares of the technology company’s stock after selling 1,411 shares during the period. Atria Investments Inc’s holdings in Aspen Technology were worth $4,027,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AZPN. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Aspen Technology by 1.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after acquiring an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of 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 worth $110,014,000 after acquiring an additional 153,897 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Aspen Technology by 26.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after purchasing an additional 109,783 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of Aspen Technology by 3.8% in the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock valued at $67,567,000 after purchasing an additional 12,500 shares during the period. Finally, Capital Research Global Investors raised its position in shares of Aspen Technology by 52.9% during the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after buying an additional 101,586 shares during the period. 45.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AZPN shares. Piper Sandler lifted their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Bank of America upped their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Loop Capital lifted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Robert W. Baird raised their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $253.00.

Aspen Technology Price Performance

AZPN opened at $246.08 on Wednesday. The stock has a market cap of $15.56 billion, a P/E ratio of -424.28, a P/E/G ratio of 2.73 and a beta of 0.76. The stock’s 50 day moving average price is $235.45 and its 200 day moving average price is $214.94. Aspen Technology, Inc. has a 12 month low of $162.99 and a 12 month high of $249.91.

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 analysts’ consensus estimates of $1.39 by ($0.54). The firm had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm’s revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. Equities analysts anticipate that Aspen Technology, Inc. will post 6.68 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 Aspen Technology stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the sale, the director now owns 8,540 shares of the company’s stock, valued at $1,871,114. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

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.