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

Vanguard Group Inc. decreased its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 0.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,919,010 shares of the technology company’s stock after selling 4,570 shares during the period. Vanguard Group Inc. owned approximately 4.59% of Aspen Technology worth $642,620,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its position in Aspen Technology by 2.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock valued at $70,000 after buying an additional 735 shares during the last quarter. Principal Securities Inc. purchased a new stake in Aspen Technology in the fourth quarter valued at approximately $73,000. Eagle Bay Advisors LLC boosted its position in Aspen Technology by 12.8% in the fourth quarter. Eagle Bay Advisors LLC now owns 902 shares of the technology company’s stock valued at $199,000 after buying an additional 102 shares during the last quarter. Austin Private Wealth LLC purchased a new stake in Aspen Technology in the fourth quarter valued at approximately $202,000. Finally, Shepherd Financial Partners LLC purchased a new stake in Aspen Technology in the fourth quarter valued at approximately $214,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of AZPN stock opened at $198.56 on Monday. The company has a market cap of $12.57 billion, a price-to-earnings ratio of -451.26, a PEG ratio of 2.45 and a beta of 0.76. The stock has a 50 day simple moving average of $204.83 and a 200-day simple moving average of $202.86. Aspen Technology, Inc. has a 1-year low of $161.32 and a 1-year high of $224.77.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.39. The business had revenue of $278.11 million during the quarter, compared to the consensus estimate of $251.65 million. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. Analysts anticipate that Aspen Technology, Inc. will post 5.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AZPN has been the topic of a number of recent research reports. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $185.00 to $255.00 in a research report on Friday, May 17th. William Blair upgraded Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Robert W. Baird reissued an “outperform” rating and issued a $230.00 price target on shares of Aspen Technology in a report on Friday, June 14th. Finally, Piper Sandler decreased their price target on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Aspen Technology has an average rating of “Hold” and a consensus price target of $219.50.

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.