Brown Brothers Harriman & Co. Has $27.86 Million Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Brown Brothers Harriman & Co. decreased its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 32.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 111,603 shares of the technology company’s stock after selling 54,749 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Aspen Technology were worth $27,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of AZPN. Bailard Inc. grew its position in shares of Aspen Technology by 0.9% during the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock worth $1,134,000 after purchasing an additional 41 shares in the last quarter. Net Worth Advisory Group grew its position in Aspen Technology by 1.0% during the fourth quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after buying an additional 41 shares in the last quarter. Heritage Family Offices LLP increased its stake in Aspen Technology by 2.8% during the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after acquiring an additional 47 shares during the period. GAMMA Investing LLC increased its position in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after purchasing an additional 58 shares during the period. Finally, Kolinsky Wealth Management LLC raised its stake in Aspen Technology by 4.7% in the third quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock valued at $317,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $264.33 on Friday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The firm has a market cap of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The company’s fifty day simple moving average is $263.75 and its 200 day simple moving average is $250.32.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results 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 return on equity of 3.17% and a net margin of 0.54%. On average, equities analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AZPN shares. Robert W. Baird reiterated a “neutral” rating and set a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $265.00 to $315.00 in a report on Monday, February 10th. Piper Sandler boosted their target price 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. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Finally, StockNews.com began coverage on Aspen Technology in a research note on Saturday, March 22nd. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.