Legal & General Group Plc Trims Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Legal & General Group Plc decreased its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,238 shares of the technology company’s stock after selling 53,820 shares during the period. Legal & General Group Plc owned 0.16% of Aspen Technology worth $24,523,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Aspen Technology in the 4th quarter valued at $26,000. Atala Financial Inc acquired a new position in Aspen Technology in the fourth quarter valued at about $44,000. Jones Financial Companies Lllp boosted its stake in Aspen Technology by 965.0% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock worth $53,000 after buying an additional 193 shares during the period. Blue Trust Inc. boosted 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 worth $58,000 after buying an additional 228 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of 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 during the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Price Performance

AZPN stock opened at $264.33 on Monday. The business’s 50-day moving average is $264.72 and its two-hundred day moving average is $253.23. The firm has a market capitalization of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37.

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

Analyst Upgrades and Downgrades

AZPN has been the subject of several research reports. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. StockNews.com assumed coverage on Aspen Technology in a report on Monday, April 7th. They issued a “hold” rating on the stock. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. 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. Finally, Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their price target for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $272.00.

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.