State of Michigan Retirement System Reduces Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

State of Michigan Retirement System lowered its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,307 shares of the technology company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Aspen Technology were worth $2,074,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in Aspen Technology by 11.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,312 shares of the technology company’s stock worth $313,000 after purchasing an additional 133 shares during the period. Van ECK Associates Corp raised its holdings in shares of Aspen Technology by 28.5% in the third quarter. Van ECK Associates Corp now owns 698 shares of the technology company’s stock worth $162,000 after buying an additional 155 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Aspen Technology by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 10,614 shares of the technology company’s stock worth $2,535,000 after acquiring an additional 1,017 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in Aspen Technology by 1.8% during the 3rd quarter. Portside Wealth Group LLC now owns 3,764 shares of the technology company’s stock valued at $899,000 after acquiring an additional 67 shares during the period. Finally, Covestor Ltd boosted its holdings in Aspen Technology by 47.7% during the 3rd quarter. Covestor Ltd now owns 542 shares of the technology company’s stock valued at $130,000 after acquiring an additional 175 shares during the period. Institutional investors own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Aspen Technology Stock Performance

NASDAQ AZPN opened at $265.25 on Friday. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 3,316.04, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The company’s 50-day simple moving average is $259.62 and its two-hundred day simple moving average is $246.24. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $277.37.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Aspen Technology, Inc. will post 6.7 earnings per share for the current fiscal year.

Aspen Technology 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.