Aspen Technology, Inc. (NASDAQ:AZPN) Position Trimmed by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 19.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,312 shares of the technology company’s stock after selling 319 shares during the quarter. Park Avenue Securities LLC’s holdings in Aspen Technology were worth $328,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of Aspen Technology by 89.2% during the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after purchasing an additional 171,351 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in Aspen Technology by 31.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after purchasing an additional 39,396 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Aspen Technology by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock worth $40,082,000 after buying an additional 10,327 shares during the last quarter. Citigroup Inc. increased its position in Aspen Technology by 15.9% in the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock worth $5,550,000 after buying an additional 3,186 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Aspen Technology by 5.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after buying an additional 28,820 shares during the last quarter. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

NASDAQ AZPN opened at $255.16 on Friday. The firm has a market capitalization of $16.14 billion, a PE ratio of -439.93, a P/E/G ratio of 2.94 and a beta of 0.76. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $259.85. The company’s 50 day simple moving average is $250.59 and its 200 day simple moving average is $231.65.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on AZPN. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Piper Sandler boosted their price objective on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com began coverage on Aspen Technology in a research report on Saturday. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $258.00.

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.