Aspen Technology, Inc. (NASDAQ:AZPN) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its stake in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 415,662 shares of the technology company's stock after purchasing an additional 8,856 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.65% of Aspen Technology worth $91,508,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System bought a new stake in Aspen Technology in the fourth quarter valued at approximately $1,739,000. NewEdge Wealth LLC lifted its position in Aspen Technology by 1.5% in the fourth quarter. NewEdge Wealth LLC now owns 23,826 shares of the technology company's stock valued at $5,245,000 after purchasing an additional 356 shares during the last quarter. Sapient Capital LLC bought a new stake in Aspen Technology in the fourth quarter valued at approximately $668,000. International Assets Investment Management LLC bought a new stake in Aspen Technology in the fourth quarter valued at approximately $31,309,000. Finally, Nisa Investment Advisors LLC lifted its position in Aspen Technology by 49.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,212 shares of the technology company's stock valued at $267,000 after purchasing an additional 401 shares during the last quarter. Institutional investors own 45.66% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AZPN shares. Piper Sandler reiterated a "neutral" rating and issued a $196.00 price objective on shares of Aspen Technology in a research report on Wednesday, February 7th. StockNews.com raised Aspen Technology from a "sell" rating to a "hold" rating in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $210.25.

Aspen Technology Stock Down 1.5 %

Shares of AZPN traded down $2.97 during mid-day trading on Wednesday, hitting $197.48. 143,483 shares of the company's stock traded hands, compared to its average volume of 200,363. Aspen Technology, Inc. has a 1 year low of $161.32 and a 1 year high of $236.78. The firm has a market capitalization of $12.55 billion, a P/E ratio of -146.28, a PEG ratio of 2.03 and a beta of 0.77. The business's 50-day moving average price is $198.36 and its 200-day moving average price is $196.53.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). The business had revenue of $257.16 million for the quarter, compared to analysts' expectations of $259.70 million. Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. Sell-side analysts anticipate that Aspen Technology, Inc. will post 5.82 earnings per share for the current fiscal 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.