Clean Energy Transition LLP Lowers Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Clean Energy Transition LLP lowered its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,149 shares of the technology company’s stock after selling 9,051 shares during the quarter. Aspen Technology makes up 1.2% of Clean Energy Transition LLP’s investment portfolio, making the stock its 7th largest position. Clean Energy Transition LLP owned about 0.15% of Aspen Technology worth $22,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Aspen Technology by 38.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after buying an additional 153,897 shares during the period. International Assets Investment Management LLC bought a new stake in Aspen Technology during the third quarter worth about $290,880,000. Dimensional Fund Advisors LP grew its stake in shares of Aspen Technology by 26.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after buying an additional 109,783 shares during the last quarter. American Capital Management Inc. increased its holdings in shares of Aspen Technology by 116.9% during the third quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock valued at $46,635,000 after acquiring an additional 105,254 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Aspen Technology by 1.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after buying an additional 65,143 shares during the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Price Performance

AZPN stock opened at $250.00 on Monday. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.04. The company’s 50-day simple moving average is $240.40 and its 200-day simple moving average is $219.14. The firm has a market cap of $15.81 billion, a P/E ratio of -431.03, a PEG ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter was down 13.4% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. On average, analysts anticipate that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of research reports. Loop Capital boosted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird lifted their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America increased their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, StockNews.com began coverage on shares of Aspen Technology in a report on Saturday. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Aspen Technology has an average rating of “Hold” and an average target price of $253.00.

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.