Bank of New York Mellon Corp Sells 5,240 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Bank of New York Mellon Corp lowered its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,344 shares of the technology company’s stock after selling 5,240 shares during the period. Bank of New York Mellon Corp owned approximately 0.36% of Aspen Technology worth $57,501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Trust Inc. grew its stake in Aspen Technology by 5,700.0% during the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after acquiring an additional 228 shares in the last quarter. GAMMA Investing LLC grew its stake in Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after acquiring an additional 58 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Aspen Technology by 126.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock valued at $68,000 after acquiring an additional 151 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Aspen Technology during the third quarter valued at approximately $77,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Aspen Technology during the third quarter valued at approximately $116,000. Institutional investors own 45.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. StockNews.com began coverage on shares of Aspen Technology in a research note on Wednesday, February 26th. They issued a “hold” rating for the company. Finally, Piper Sandler boosted their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $272.00.

Aspen Technology Stock Performance

Shares of Aspen Technology stock opened at $264.60 on Wednesday. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37. The stock has a market capitalization of $16.75 billion, a price-to-earnings ratio of 3,307.91, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. The company has a fifty day moving average of $258.76 and a 200-day moving average of $245.39.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. On average, equities research analysts forecast that Aspen Technology, Inc. will post 6.7 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.