Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 47.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,116 shares of the technology company’s stock after selling 998 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Aspen Technology were worth $246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Aspen Technology by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock valued at $68,931,000 after buying an additional 16,649 shares during the last quarter. Alaska Permanent Fund Corp acquired a new stake in shares of Aspen Technology during the 4th quarter valued at approximately $2,957,000. Toronto Dominion Bank raised its position in shares of Aspen Technology by 79,514.3% during the 3rd quarter. Toronto Dominion Bank now owns 5,573 shares of the technology company’s stock valued at $1,138,000 after acquiring an additional 5,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Aspen Technology by 2.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,662 shares of the technology company’s stock valued at $91,508,000 after acquiring an additional 8,856 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Aspen Technology by 203.6% during the 4th quarter. Corient Private Wealth LLC now owns 8,094 shares of the technology company’s stock valued at $1,782,000 after acquiring an additional 5,428 shares in the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $197.89 on Friday. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $224.77. The business’s fifty day moving average price is $204.64 and its two-hundred day moving average price is $202.76. The firm has a market capitalization of $12.53 billion, a PE ratio of -449.74, a P/E/G ratio of 2.50 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued 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 firm had revenue of $278.11 million for the quarter, compared to analyst estimates of $251.65 million. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. Equities research analysts expect that Aspen Technology, Inc. will post 5.52 earnings per share for the current fiscal year.

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.