Victory Capital Management Inc. Reduces Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Victory Capital Management Inc. trimmed its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,325 shares of the technology company’s stock after selling 1,327 shares during the quarter. Victory Capital Management Inc.’s holdings in Aspen Technology were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AZPN. Bailard Inc. grew its stake in Aspen Technology by 0.9% during the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock valued at $1,134,000 after purchasing an additional 41 shares during the last quarter. Commerce Bank grew its stake in Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after purchasing an additional 47 shares during the last quarter. Heritage Family Offices LLP grew its stake in Aspen Technology by 2.8% during the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after purchasing an additional 47 shares during the last quarter. GAMMA Investing LLC grew its stake in Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares during the last quarter. Finally, Kolinsky Wealth Management LLC grew its stake in Aspen Technology by 4.7% during the 3rd quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock valued at $317,000 after purchasing an additional 60 shares during the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird reiterated a “neutral” rating and set a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Piper Sandler boosted their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $265.00 to $315.00 in a report on Monday, February 10th. Finally, StockNews.com started coverage on Aspen Technology in a report on Friday. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $264.33 on Tuesday. The stock has a market capitalization of $16.73 billion, a price-to-earnings ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $277.37. The stock has a 50-day moving average of $261.31 and a 200 day moving average of $248.36.

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