NewEdge Wealth LLC Decreases Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

NewEdge Wealth LLC cut its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,304 shares of the technology company’s stock after selling 626 shares during the period. NewEdge Wealth LLC’s holdings in Aspen Technology were worth $6,816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 228 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Aspen Technology by 30.1% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Aspen Technology by 126.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock valued at $68,000 after purchasing an additional 151 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Aspen Technology in the 3rd quarter valued at about $77,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Aspen Technology in the 3rd quarter valued at about $116,000. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

AZPN opened at $264.09 on Friday. The firm has a 50 day moving average price of $257.59 and a 200 day moving average price of $243.68. The company has a market cap of $16.72 billion, a PE ratio of 3,301.54, a price-to-earnings-growth ratio of 3.00 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.

Aspen Technology (NASDAQ:AZPN) last posted its 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, sell-side analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AZPN shares. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler upped their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” 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 upped their price objective for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Aspen Technology has an average rating of “Hold” and an average 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.