Corebridge Financial Inc. Has $7.50 Million Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Corebridge Financial Inc. lowered its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,061 shares of the technology company’s stock after selling 1,358 shares during the quarter. Corebridge Financial Inc.’s holdings in Aspen Technology were worth $7,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Aspen Technology in the fourth quarter valued at about $26,000. Atala Financial Inc bought a new stake in shares of Aspen Technology in the 4th quarter valued at about $44,000. Jones Financial Companies Lllp raised its position in shares of Aspen Technology by 965.0% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after acquiring an additional 193 shares during the period. Blue Trust Inc. boosted its stake in Aspen Technology by 5,700.0% during the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after acquiring an additional 228 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Aspen Technology by 30.1% during the fourth 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 period. 45.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AZPN has been the topic of several analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 target price (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Piper Sandler raised their price objective on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $315.00 in a research note on Monday, February 10th. StockNews.com started coverage on Aspen Technology in a research report on Saturday, March 22nd. They set a “hold” rating on the stock. Finally, Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Aspen Technology currently has an average rating of “Hold” and an average target price of $272.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $264.33 on Friday. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $277.37. The company has a fifty day simple moving average of $263.75 and a 200 day simple moving average of $250.32. 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 announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate 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 research analysts forecast that Aspen Technology, Inc. will post 6.7 EPS for the current year.

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.