Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 90.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,967 shares of the technology company’s stock after selling 524,715 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.09% of Aspen Technology worth $14,470,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new position in Aspen Technology in the fourth quarter valued at approximately $2,991,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Aspen Technology by 126.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock worth $68,000 after buying an additional 151 shares during the period. Caprock Group LLC acquired a new position in shares of Aspen Technology during the 4th quarter worth approximately $327,000. R Squared Ltd acquired a new position in shares of Aspen Technology during the 4th quarter worth approximately $160,000. Finally, Pacer Advisors Inc. raised its stake in shares of Aspen Technology by 45.2% during the 4th quarter. Pacer Advisors Inc. now owns 22,631 shares of the technology company’s stock worth $5,649,000 after buying an additional 7,048 shares during the period. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Stock Performance

Shares of AZPN opened at $265.10 on Thursday. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $277.37. The stock has a market capitalization of $16.78 billion, a price-to-earnings ratio of 3,314.16, a PEG ratio of 3.03 and a beta of 0.76. The stock has a 50 day moving average price of $254.85 and a 200 day moving average price of $238.54.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. On average, analysts predict that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AZPN. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $265.00 to $315.00 in a research note on Monday. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, StockNews.com began coverage on Aspen Technology in a research note on Monday. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $272.00.

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.