Norden Group LLC Reduces Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Norden Group LLC decreased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 12.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,570 shares of the technology company’s stock after selling 353 shares during the quarter. Norden Group LLC’s holdings in Aspen Technology were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commerce Bank raised its stake in Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after acquiring an additional 47 shares during the period. Heritage Family Offices LLP raised its stake in Aspen Technology by 2.8% during the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after acquiring an additional 47 shares during the period. US Bancorp DE raised its position in shares of 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 buying an additional 50 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Aspen Technology by 1.8% during the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after buying an additional 55 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Aspen Technology by 30.1% during the fourth 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 own 45.66% of the company’s stock.

Aspen Technology Trading Down 0.1 %

Shares of AZPN opened at $265.00 on Tuesday. The firm has a market capitalization of $16.78 billion, a P/E ratio of 3,312.91, a P/E/G ratio of 3.00 and a beta of 0.76. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The firm has a fifty day moving average price of $258.49 and a 200-day moving average price of $245.01.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. Analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on AZPN. Piper Sandler lifted their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. StockNews.com started coverage on shares of Aspen Technology in a research report on Wednesday, February 26th. They issued a “hold” rating on the stock. Finally, Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.