Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 0.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 74,037 shares of the technology company’s stock after selling 162 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Aspen Technology were worth $15,791,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Aspen Technology by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock worth $68,931,000 after purchasing an additional 16,649 shares during the period. Alaska Permanent Fund Corp purchased a new stake in Aspen Technology during the fourth quarter valued at about $2,957,000. Illinois Municipal Retirement Fund acquired a new stake in Aspen Technology during the first quarter worth about $1,487,000. IFM Investors Pty Ltd purchased a new position in shares of Aspen Technology in the 1st quarter worth about $1,166,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Aspen Technology by 2.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,662 shares of the technology company’s stock valued at $91,508,000 after purchasing an additional 8,856 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Stock Down 2.1 %

Shares of NASDAQ:AZPN opened at $188.97 on Tuesday. The company has a 50 day moving average of $200.55 and a two-hundred day moving average of $200.01. Aspen Technology, Inc. has a 52-week low of $162.26 and a 52-week high of $224.77.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.39. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. The business had revenue of $278.11 million during the quarter, compared to the consensus estimate of $251.65 million. Research analysts anticipate that Aspen Technology, Inc. will post 5.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AZPN. Berenberg Bank raised shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $185.00 to $255.00 in a research report on Friday, May 17th. Robert W. Baird reissued an “outperform” rating and issued a $230.00 price objective on shares of Aspen Technology in a research report on Friday, June 14th. Piper Sandler reduced their target price on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, William Blair raised shares of Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $219.50.

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.