Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning cut its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 34.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 961 shares of the technology company’s stock after selling 498 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Aspen Technology were worth $205,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Aspen Technology by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock valued at $68,931,000 after purchasing an additional 16,649 shares during the period. Alaska Permanent Fund Corp acquired a new position in shares of Aspen Technology in the fourth quarter valued at about $2,957,000. Toronto Dominion Bank increased its holdings in shares of Aspen Technology by 79,514.3% in the third quarter. Toronto Dominion Bank now owns 5,573 shares of the technology company’s stock valued at $1,138,000 after purchasing an additional 5,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Aspen Technology by 2.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,662 shares of the technology company’s stock valued at $91,508,000 after purchasing an additional 8,856 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of Aspen Technology by 203.6% in the fourth quarter. Corient Private Wealth LLC now owns 8,094 shares of the technology company’s stock worth $1,782,000 after buying an additional 5,428 shares during the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Aspen Technology Trading Up 2.3 %

Shares of AZPN stock opened at $199.53 on Thursday. The company has a market capitalization of $12.64 billion, a P/E ratio of -453.48, a P/E/G ratio of 2.51 and a beta of 0.74. The business’s 50 day moving average is $204.65 and its two-hundred day moving average is $202.61. Aspen Technology, Inc. has a 12-month low of $162.26 and a 12-month high of $224.77.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.39. The company had revenue of $278.11 million for 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%. On average, research analysts predict that Aspen Technology, Inc. will post 5.52 earnings per share for the current fiscal year.

Aspen Technology Company 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.