Sanctuary Advisors LLC Decreases Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Sanctuary Advisors LLC decreased its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,218 shares of the technology company’s stock after selling 2,388 shares during the period. Sanctuary Advisors LLC’s holdings in Aspen Technology were worth $2,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in Aspen Technology during the fourth quarter valued at approximately $2,991,000. Blue Trust Inc. raised its holdings in shares of Aspen Technology by 5,700.0% in 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 last quarter. Stephens Inc. AR raised its holdings in shares of Aspen Technology by 2.4% in the fourth quarter. Stephens Inc. AR now owns 3,210 shares of the technology company’s stock worth $801,000 after buying an additional 75 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Aspen Technology by 126.9% in the fourth 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 last quarter. Finally, Caprock Group LLC purchased a new position in shares of Aspen Technology in the fourth quarter worth $327,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

AZPN has been the subject of a number of research analyst reports. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. StockNews.com initiated coverage on shares of Aspen Technology in a report on Tuesday, February 18th. They issued a “hold” rating for the company. Piper Sandler raised their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $263.90 on Friday. The firm has a market capitalization of $16.71 billion, a P/E ratio of 3,299.16, a PEG ratio of 3.01 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 company’s fifty day moving average price is $256.70 and its 200-day moving average price is $242.53.

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

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.