Sumitomo Mitsui Trust Holdings Inc. Acquires 8,856 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Sumitomo Mitsui Trust Holdings Inc. increased its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,662 shares of the technology company’s stock after buying an additional 8,856 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Aspen Technology were worth $91,508,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AZPN. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Aspen Technology in the 1st quarter valued at about $29,000. Compass Wealth Management LLC acquired a new position in Aspen Technology during the 4th quarter valued at about $29,000. Belpointe Asset Management LLC boosted its stake in Aspen Technology by 88.0% during the 1st quarter. Belpointe Asset Management LLC now owns 141 shares of the technology company’s stock valued at $32,000 after purchasing an additional 66 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in Aspen Technology during the 2nd quarter valued at about $34,000. Finally, CWM LLC lifted its position in shares of Aspen Technology by 43.9% during the 3rd quarter. CWM LLC now owns 226 shares of the technology company’s stock worth $46,000 after buying an additional 69 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Trading Down 0.2 %

NASDAQ:AZPN opened at $200.45 on Wednesday. The stock has a market capitalization of $12.74 billion, a PE ratio of -148.48, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. The firm’s 50 day moving average is $198.12 and its 200 day moving average is $196.55. Aspen Technology, Inc. has a 12 month low of $161.32 and a 12 month high of $242.10.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly 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 company had revenue of $257.16 million during the quarter, compared to the consensus estimate of $259.70 million. Aspen Technology had a positive return on equity of 2.38% and a negative net margin of 8.17%. Research analysts predict that Aspen Technology, Inc. will post 5.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AZPN has been the topic of several recent analyst reports. StockNews.com raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Piper Sandler reissued a “neutral” rating and set a $196.00 target price on shares of Aspen Technology in a research report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $210.25.

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.