Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,737 shares of the technology company’s stock after selling 920 shares during the quarter. MetLife Investment Management LLC’s holdings in Aspen Technology were worth $3,281,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Aspen Technology by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after purchasing an additional 65,143 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Aspen Technology by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after acquiring an additional 28,820 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Aspen Technology by 38.5% during 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 acquiring an additional 153,897 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 acquiring an additional 109,783 shares during the period. Finally, Fiera Capital Corp boosted its holdings in shares of Aspen Technology by 3.8% during the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock valued at $67,567,000 after acquiring an additional 12,500 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Up 0.1 %

AZPN stock opened at $248.59 on Wednesday. The company has a market capitalization of $15.72 billion, a P/E ratio of -428.60, a PEG ratio of 2.83 and a beta of 0.76. The company has a 50-day simple moving average of $240.99 and a 200 day simple moving average of $219.57. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.04.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on AZPN. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital boosted their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. 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 report on Wednesday, September 18th. Robert W. Baird boosted their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com initiated coverage on shares of Aspen Technology in a report on Saturday. They issued a “hold” rating for the company. Four investment 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, Aspen Technology currently has a consensus rating of “Hold” and a consensus price target of $253.00.

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.