Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,029 shares of the technology company’s stock after selling 55 shares during the quarter. State of Alaska Department of Revenue’s holdings in Aspen Technology were worth $756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commerce Bank lifted its holdings in Aspen Technology by 3.1% in 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 in the last quarter. Heritage Family Offices LLP raised its position in shares of Aspen Technology by 2.8% in the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after buying an additional 47 shares during the last quarter. US Bancorp DE lifted its stake in shares of Aspen Technology by 0.4% in the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after buying an additional 50 shares in the last quarter. GAMMA Investing LLC boosted its position in Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after acquiring 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 acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of NASDAQ:AZPN opened at $264.78 on Friday. The firm has a market capitalization of $16.76 billion, a PE ratio of 3,310.16, a price-to-earnings-growth ratio of 3.03 and a beta of 0.76. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37. The firm’s 50-day moving average is $255.41 and its two-hundred day moving average is $239.25.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a report on Monday, February 10th. They set a “hold” rating on the stock. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird restated a “neutral” rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $315.00 in a report on Monday, February 10th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.