Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,273 shares of the technology company’s stock after selling 2,119 shares during the quarter. Retirement Systems of Alabama owned about 0.05% of Aspen Technology worth $7,707,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AZPN. Commerce Bank raised its position in shares of Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after acquiring an additional 47 shares in the last quarter. US Bancorp DE increased its stake in Aspen Technology by 0.4% during the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after purchasing an additional 50 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Aspen Technology by 6.7% during the second quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock worth $171,000 after purchasing an additional 54 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Aspen Technology by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock worth $736,000 after buying an additional 55 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its position in shares of Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Institutional investors own 45.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AZPN shares. Piper Sandler increased their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird increased their price target on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Bank of America boosted their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Loop Capital increased their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $258.00.

Aspen Technology Trading Down 0.8 %

Shares of NASDAQ AZPN opened at $249.25 on Wednesday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $254.44. The company has a market cap of $15.77 billion, a PE ratio of -429.74, a P/E/G ratio of 2.89 and a beta of 0.76. The stock has a 50 day simple moving average of $243.79 and a 200-day simple moving average of $221.65.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The company’s revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. Sell-side analysts forecast that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

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.