Captrust Financial Advisors Cuts Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Captrust Financial Advisors lessened its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 11.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,666 shares of the technology company’s stock after selling 224 shares during the quarter. Captrust Financial Advisors’ holdings in Aspen Technology were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AZPN. Capstone Investment Advisors LLC purchased a new position in shares of Aspen Technology during the 3rd quarter valued at about $977,000. Townsquare Capital LLC lifted its holdings in shares of Aspen Technology by 0.4% in the 3rd quarter. Townsquare Capital LLC now owns 28,565 shares of the technology company’s stock worth $6,822,000 after acquiring an additional 110 shares during the last quarter. FMR LLC lifted its holdings in shares of Aspen Technology by 51.2% in the 3rd quarter. FMR LLC now owns 4,369 shares of the technology company’s stock worth $1,043,000 after acquiring an additional 1,480 shares during the last quarter. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Aspen Technology in the 3rd quarter valued at $539,000. Finally, Mirabella Financial Services LLP grew its holdings in shares of Aspen Technology by 78.8% during the 3rd quarter. Mirabella Financial Services LLP now owns 13,410 shares of the technology company’s stock valued at $3,140,000 after purchasing an additional 5,908 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com started coverage on Aspen Technology in a report on Sunday, December 8th. They set a “hold” rating for the company. Loop Capital lifted their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Bank of America increased their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Piper Sandler raised their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $258.00.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $248.80 on Friday. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.44. The stock has a market cap of $15.74 billion, a P/E ratio of -428.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. The stock has a 50 day simple moving average of $243.53 and a two-hundred day simple moving average of $221.28.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. During the same quarter last year, the firm earned $0.96 EPS. The business’s revenue was down 13.4% on a year-over-year basis. Sell-side analysts predict that Aspen Technology, Inc. will post 6.68 earnings per share for the current 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.