Dynasty Wealth Management LLC Trims Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Dynasty Wealth Management LLC lowered its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,416 shares of the technology company’s stock after selling 92 shares during the period. Dynasty Wealth Management LLC’s holdings in Aspen Technology were worth $353,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AZPN. Commerce Bank increased its holdings in Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares during the period. Heritage Family Offices LLP increased its position in shares of Aspen Technology by 2.8% in the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after purchasing an additional 47 shares during the last quarter. US Bancorp DE increased its position in shares of Aspen Technology by 0.4% in the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after purchasing an additional 50 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Aspen Technology by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after purchasing an additional 55 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Up 0.4 %

NASDAQ:AZPN opened at $265.25 on Friday. The stock’s 50 day moving average price is $257.89 and its 200 day moving average price is $243.82. The company has a market capitalization of $16.79 billion, a PE ratio of 3,316.04, a P/E/G ratio of 3.00 and a beta of 0.76. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. As a group, sell-side analysts anticipate that Aspen Technology, Inc. will post 6.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AZPN. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $265.00 to $315.00 in a report on Monday, February 10th. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. StockNews.com started coverage on shares of Aspen Technology in a research note on Wednesday. They issued a “hold” rating on the stock. Finally, Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six equities research 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 stock has an average rating of “Hold” and an average target price of $272.00.

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.