Steph & Co. Sells 282 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Steph & Co. decreased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 36.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 487 shares of the technology company’s stock after selling 282 shares during the period. Steph & Co.’s holdings in Aspen Technology were worth $122,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Brown Brothers Harriman & Co. raised its holdings in shares of Aspen Technology by 31.0% in the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after acquiring an additional 39,396 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after purchasing an additional 171,351 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Aspen Technology during the second quarter valued at about $3,042,000. Charles Schwab Investment Management Inc. lifted its position in shares of Aspen Technology by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock valued at $40,082,000 after buying an additional 10,327 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Aspen Technology by 15.9% in the 3rd quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock valued at $5,550,000 after buying an additional 3,186 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Price Performance

AZPN opened at $250.96 on Friday. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $254.44. The firm has a fifty day moving average price of $249.64 and a 200 day moving average price of $229.30. The stock has a market cap of $15.87 billion, a P/E ratio of -432.69, a P/E/G ratio of 2.84 and a beta of 0.76.

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

Analyst Upgrades and Downgrades

AZPN has been the subject of a number of analyst reports. Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Piper Sandler boosted their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird raised their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, StockNews.com started coverage on shares of Aspen Technology in a research note on Friday. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $258.00.

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.