Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,422 shares of the technology company’s stock after selling 1,346 shares during the period. Daiwa Securities Group Inc.’s holdings in Aspen Technology were worth $2,102,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bailard Inc. lifted its position in Aspen Technology by 0.9% in the fourth quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock worth $1,134,000 after purchasing an additional 41 shares during the period. Commerce Bank increased its holdings in shares of Aspen Technology by 3.1% in the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after buying an additional 47 shares in the last quarter. Heritage Family Offices LLP increased its holdings in shares of Aspen Technology by 2.8% in the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after buying an additional 47 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $63,000 after buying an additional 58 shares in the last quarter. Finally, Kolinsky Wealth Management LLC increased its holdings in shares of 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 buying an additional 60 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Price Performance

Shares of NASDAQ:AZPN opened at $264.33 on Friday. The company’s fifty day moving average is $261.08 and its two-hundred day moving average is $247.69. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The company has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, beating 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%. Equities research analysts anticipate that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. StockNews.com assumed coverage on Aspen Technology in a report on Friday. They issued a “hold” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Finally, Piper Sandler boosted their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. 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, Aspen Technology currently has a consensus rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Company 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.