Geode Capital Management LLC Sells 43,413 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Geode Capital Management LLC cut its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 522,033 shares of the technology company’s stock after selling 43,413 shares during the period. Geode Capital Management LLC owned approximately 0.82% of Aspen Technology worth $130,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Aspen Technology during the 4th quarter valued at about $26,000. Atala Financial Inc bought a new position in shares of Aspen Technology in the fourth quarter valued at approximately $44,000. Jones Financial Companies Lllp boosted its position in shares of Aspen Technology by 965.0% during the fourth 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. grew its holdings in Aspen Technology by 5,700.0% during the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 228 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of AZPN stock opened at $264.33 on Wednesday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The company has a 50 day moving average of $264.70 and a 200-day moving average of $252.36. The firm has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that Aspen Technology, Inc. will post 6.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AZPN shares. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Piper Sandler boosted their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. StockNews.com assumed coverage on shares of Aspen Technology in a research note on Monday. They issued a “hold” rating for the company. Robert W. Baird restated a “neutral” rating and issued a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Finally, Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $265.00 to $315.00 in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $272.00.

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.