Xponance Inc. Trims Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Xponance Inc. lowered its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,494 shares of the technology company’s stock after selling 572 shares during the period. Xponance Inc.’s holdings in Aspen Technology were worth $893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of AZPN. Norges Bank purchased a new stake in shares of Aspen Technology during the fourth quarter valued at $31,630,000. Corient Private Wealth LLC boosted its position in Aspen Technology by 203.6% in the 4th quarter. Corient Private Wealth LLC now owns 8,094 shares of the technology company’s stock valued at $1,782,000 after buying an additional 5,428 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Aspen Technology by 17.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 7,553 shares of the technology company’s stock worth $1,663,000 after acquiring an additional 1,100 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Aspen Technology in the 4th quarter worth about $252,000. Finally, Bank of Nova Scotia increased its position in shares of Aspen Technology by 20.5% during the fourth quarter. Bank of Nova Scotia now owns 3,555 shares of the technology company’s stock worth $783,000 after acquiring an additional 606 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Insider Buying and Selling at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $237.22 on Friday. Aspen Technology, Inc. has a 1-year low of $162.26 and a 1-year high of $240.82. The business has a fifty day moving average price of $214.45 and a 200 day moving average price of $207.28. The stock has a market capitalization of $15.02 billion, a P/E ratio of -539.14, a price-to-earnings-growth ratio of 2.73 and a beta of 0.75.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $1.88 by $0.49. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The business had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. During the same period in the prior year, the firm posted $1.87 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AZPN. Bank of America increased their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler increased their price target on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Robert W. Baird lifted their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Aspen Technology presently has a consensus rating of “Moderate Buy” and an average target price of $248.40.

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.