Axxcess Wealth Management LLC Reduces Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Axxcess Wealth Management LLC decreased its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,565 shares of the technology company’s stock after selling 59 shares during the period. Axxcess Wealth Management LLC’s holdings in Aspen Technology were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp increased its stake in Aspen Technology by 94.4% in the 3rd quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock worth $71,000 after acquiring an additional 170 shares during the last quarter. Signaturefd LLC increased its position in shares of Aspen Technology by 152.3% during the 3rd quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock valued at $102,000 after purchasing an additional 300 shares during the last quarter. Austin Private Wealth LLC bought a new position in shares of Aspen Technology during the 4th quarter valued at about $202,000. Quantum Private Wealth LLC bought a new position in shares of Aspen Technology during the 3rd quarter valued at about $202,000. Finally, Thrive Wealth Management LLC bought a new position in shares of Aspen Technology during the 4th quarter valued at about $225,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Wall Street Analyst Weigh In

AZPN has been the subject of several analyst reports. Robert W. Baird dropped their target price on Aspen Technology from $225.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com upgraded Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Finally, Piper Sandler dropped their target price on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $201.00.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $197.79 on Thursday. Aspen Technology, Inc. has a fifty-two week low of $161.32 and a fifty-two week high of $224.77. The stock has a 50 day simple moving average of $202.53 and a two-hundred day simple moving average of $196.45. The stock has a market cap of $12.57 billion, a P/E ratio of -146.51, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, February 6th. The technology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The firm had revenue of $257.16 million during the quarter, compared to analysts’ expectations of $259.70 million. Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. Sell-side analysts predict that Aspen Technology, Inc. will post 5.82 earnings per share for the current year.

Aspen Technology 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.