Aspen Technology, Inc. (NASDAQ:AZPN) Stock Position Trimmed by M&T Bank Corp

M&T Bank Corp cut its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,953 shares of the technology company’s stock after selling 173 shares during the quarter. M&T Bank Corp’s holdings in Aspen Technology were worth $2,734,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AZPN. Assenagon Asset Management S.A. lifted its position in Aspen Technology by 37,990.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after purchasing an additional 632,545 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after buying an additional 171,351 shares during the period. American Capital Management Inc. increased its stake in Aspen Technology by 116.9% during the 3rd quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock valued at $46,635,000 after buying an additional 105,254 shares during the period. Point72 Asset Management L.P. acquired a new position in Aspen Technology during the 3rd quarter valued at about $19,928,000. Finally, Paloma Partners Management Co acquired a new position in Aspen Technology during the 3rd quarter valued at about $11,217,000. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Price Performance

Aspen Technology stock opened at $265.25 on Friday. The firm’s 50 day simple moving average is $259.62 and its 200-day simple moving average is $246.24. The company has a market cap of $16.79 billion, a P/E ratio of 3,316.04, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $277.37.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AZPN shares. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler raised their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $272.00.

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.