Franklin Resources Inc. decreased its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) by 44.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 627,495 shares of the technology company’s stock after selling 492,934 shares during the period. Franklin Resources Inc.’s holdings in Aspen Technology were worth $115,259,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its stake in Aspen Technology by 6.5% during the 1st quarter. BlackRock Inc. now owns 6,645,133 shares of the technology company’s stock worth $1,098,905,000 after acquiring an additional 407,220 shares during the last quarter. Vanguard Group Inc. boosted its stake in Aspen Technology by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,336,062 shares of the technology company’s stock worth $1,047,795,000 after acquiring an additional 51,393 shares during the last quarter. State Street Corp boosted its stake in Aspen Technology by 2.1% during the 1st quarter. State Street Corp now owns 1,812,165 shares of the technology company’s stock worth $299,678,000 after acquiring an additional 36,999 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Aspen Technology by 96.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 527,069 shares of the technology company’s stock worth $87,161,000 after acquiring an additional 258,347 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Aspen Technology by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 409,652 shares of the technology company’s stock worth $67,744,000 after acquiring an additional 13,823 shares during the last quarter. Institutional investors and hedge funds own 93.73% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on AZPN. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. KeyCorp lifted their price target on shares of Aspen Technology from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, October 27th. Piper Sandler lifted their price target on shares of Aspen Technology from $189.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, September 19th. Wolfe Research initiated coverage on shares of Aspen Technology in a research note on Tuesday, August 16th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird lifted their price target on shares of Aspen Technology to $242.00 in a research note on Thursday, October 27th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $243.40.
Insider Transactions at Aspen Technology
Aspen Technology Stock Performance
Shares of AZPN stock opened at $239.75 on Thursday. The company’s fifty day simple moving average is $239.61 and its 200-day simple moving average is $211.89. The company has a quick ratio of 4.07, a current ratio of 3.24 and a debt-to-equity ratio of 0.02. The firm has a market cap of $15.47 billion, a PE ratio of 79.92, a P/E/G ratio of 2.12 and a beta of 1.01. Aspen Technology, Inc. has a 12 month low of $135.48 and a 12 month high of $263.59.
Aspen Technology (NASDAQ:AZPN – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The technology company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.95. The business had revenue of $250.82 million for the quarter, compared to analyst estimates of $236.76 million. Aspen Technology had a net margin of 21.55% and a return on equity of 5.75%. The firm’s revenue for the quarter was up 84.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Equities research analysts expect that Aspen Technology, Inc. will post 5.99 EPS for the current fiscal year.
Aspen Technology Company Profile
Aspen Technology together with its subsidiaries develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes. Its software applications utilize proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.
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