Alliance Wealth Advisors LLC UT Reduces Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Alliance Wealth Advisors LLC UT lessened its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 9.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,269 shares of the technology company’s stock after selling 129 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Aspen Technology were worth $317,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AZPN. Assenagon Asset Management S.A. lifted its stake in Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after purchasing an additional 632,545 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after buying an additional 171,351 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Aspen Technology during the 3rd quarter worth approximately $290,880,000. American Capital Management Inc. boosted its holdings in Aspen Technology by 116.9% during the 3rd quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock valued at $46,635,000 after acquiring an additional 105,254 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Aspen Technology in the 3rd quarter valued at $19,928,000. 45.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird reiterated a “neutral” rating and set a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Sunday. They set a “hold” rating for the company. Piper Sandler increased 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. 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $261.00.

Aspen Technology Stock Down 0.1 %

Shares of AZPN stock opened at $263.97 on Wednesday. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of -455.12, a PEG ratio of 3.00 and a beta of 0.76. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $265.05. The company’s 50 day moving average is $252.77 and its 200 day moving average is $235.65.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal 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.