Jane Street Group LLC Lowers Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Jane Street Group LLC trimmed its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 86.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,846 shares of the technology company’s stock after selling 11,614 shares during the quarter. Jane Street Group LLC’s holdings in Aspen Technology were worth $441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AZPN. Weiss Asset Management LP purchased a new position in Aspen Technology in the 3rd quarter worth about $375,000. Quantinno Capital Management LP purchased a new position in shares of Aspen Technology during the third quarter valued at approximately $377,000. Point72 DIFC Ltd bought a new position in Aspen Technology during the third quarter valued at approximately $518,000. Point72 Asset Management L.P. purchased a new stake in Aspen Technology in the third quarter worth approximately $19,928,000. Finally, Investment Management Corp of Ontario bought a new stake in Aspen Technology in the 3rd quarter worth approximately $214,000. 45.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on AZPN shares. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America boosted their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Loop Capital increased their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird boosted their target price on shares of Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler upped their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $258.00.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $252.90 on Tuesday. The business’s 50 day moving average price is $247.90 and its 200-day moving average price is $226.74. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.44. The company has a market cap of $16.00 billion, a P/E ratio of -436.03, a P/E/G ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its 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 firm had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. During the same period in the prior year, the company posted $0.96 EPS. The company’s revenue was down 13.4% compared to the same quarter last year. As a group, equities analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current year.

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.