Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,813 shares of the technology company’s stock after selling 18,101 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Aspen Technology were worth $43,139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Aspen Technology in the fourth quarter valued at approximately $26,000. Atala Financial Inc acquired a new position in shares of Aspen Technology in the 4th quarter valued at $44,000. Jones Financial Companies Lllp grew its position in shares of Aspen Technology by 965.0% in 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 last quarter. Blue Trust Inc. raised its stake in 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 acquiring an additional 228 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after acquiring an additional 58 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZPN has been the topic of several research reports. StockNews.com assumed coverage on Aspen Technology in a report on Monday. They set a “hold” rating on the stock. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Robert W. Baird reiterated 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. Piper Sandler raised their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Aspen Technology currently has a consensus rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Stock Performance

Shares of AZPN opened at $264.33 on Friday. The stock’s 50 day moving average is $264.71 and its two-hundred day moving average is $252.87. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $277.37. The firm has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. On average, sell-side analysts predict that Aspen Technology, Inc. will post 6.7 EPS 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.