Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 0.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 74,037 shares of the technology company’s stock after selling 162 shares during the period. Public Employees Retirement Association of Colorado owned about 0.12% of Aspen Technology worth $15,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Aspen Technology by 3.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,864 shares of the technology company’s stock worth $410,000 after acquiring an additional 63 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Aspen Technology by 139.6% during the 4th quarter. Pacer Advisors Inc. now owns 7,474 shares of the technology company’s stock worth $1,645,000 after purchasing an additional 4,355 shares during the last quarter. Snider Financial Group grew its holdings in shares of Aspen Technology by 5.2% during the fourth quarter. Snider Financial Group now owns 16,502 shares of the technology company’s stock worth $3,633,000 after buying an additional 822 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Aspen Technology by 3.6% in the fourth quarter. State of Michigan Retirement System now owns 8,607 shares of the technology company’s stock valued at $1,895,000 after buying an additional 300 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in shares of Aspen Technology by 5.5% in the fourth quarter. Boston Trust Walden Corp now owns 20,329 shares of the technology company’s stock worth $4,475,000 after buying an additional 1,065 shares in the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Stock Down 2.1 %

AZPN stock opened at $188.97 on Tuesday. Aspen Technology, Inc. has a one year low of $162.26 and a one year high of $224.77. The firm’s 50 day moving average price is $200.55 and its 200-day moving average price is $200.01.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, May 7th. The technology company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.39. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The company had revenue of $278.11 million for the quarter, compared to the consensus estimate of $251.65 million. As a group, research analysts expect that Aspen Technology, Inc. will post 5.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. William Blair upgraded shares of Aspen Technology to a “hold” rating in a report on Tuesday, May 7th. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $255.00 in a research report on Friday, May 17th. Robert W. Baird restated an “outperform” rating and issued a $230.00 target price on shares of Aspen Technology in a report on Friday, June 14th. Finally, Piper Sandler cut their target price on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Aspen Technology has an average rating of “Moderate Buy” and a consensus target price of $219.50.

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.