Aspen Technology, Inc. (NASDAQ:AZPN) Stock Position Decreased by Steph & Co.

Steph & Co. cut its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 51.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421 shares of the technology company’s stock after selling 440 shares during the period. Steph & Co.’s holdings in Aspen Technology were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AZPN. Raymond James Financial Services Advisors Inc. raised its stake in shares of Aspen Technology by 41.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,404 shares of the technology company’s stock worth $563,000 after purchasing an additional 993 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Aspen Technology by 8.8% in the 1st quarter. HighTower Advisors LLC now owns 5,603 shares of the technology company’s stock valued at $918,000 after acquiring an additional 454 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Aspen Technology by 7.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 36,499 shares of the technology company’s stock valued at $6,201,000 after acquiring an additional 2,579 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of Aspen Technology in the 1st quarter valued at approximately $222,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Aspen Technology by 1,331.8% in the 1st quarter. Allianz Asset Management GmbH now owns 170,315 shares of the technology company’s stock valued at $28,165,000 after acquiring an additional 158,420 shares in the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AZPN. StockNews.com raised Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Piper Sandler reissued a “neutral” rating and issued a $196.00 price objective on shares of Aspen Technology in a research note on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $210.25.

Aspen Technology Stock Up 0.0 %

AZPN opened at $197.50 on Thursday. The stock’s 50 day moving average price is $198.36 and its two-hundred day moving average price is $196.53. Aspen Technology, Inc. has a 12-month low of $161.32 and a 12-month high of $236.78.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The business had revenue of $257.16 million during the quarter, compared to analyst estimates of $259.70 million. Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. On average, sell-side analysts anticipate that Aspen Technology, Inc. will post 5.82 EPS for the current 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.