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

Daiwa Securities Group Inc. reduced its stake in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 13.8% during the fourth quarter, according to its most recent filing 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 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of 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 acquiring an additional 632,545 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Aspen Technology during the 4th quarter valued at about $66,680,000. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 171,351 shares in the last quarter. Amundi grew its position in shares of Aspen Technology by 345.7% during the fourth quarter. Amundi now owns 142,897 shares of the technology company's stock worth $35,874,000 after purchasing an additional 110,838 shares in the last quarter. Finally, American Capital Management Inc. boosted its position in shares of Aspen Technology by 116.9% during the third quarter. American Capital Management Inc. now owns 195,271 shares of the technology company's stock worth $46,635,000 after acquiring an additional 105,254 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on AZPN shares. Piper Sandler lifted their price target on Aspen Technology from $240.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Robert W. Baird restated a "neutral" rating and issued a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Baird R W lowered Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 27th. Loop Capital raised Aspen Technology from a "hold" rating to a "buy" rating and raised their price objective for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. Finally, StockNews.com began coverage on shares of Aspen Technology in a research note on Friday. They set a "hold" rating for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Aspen Technology has a consensus rating of "Hold" and a consensus target price of $272.00.

Aspen Technology Stock Performance

Shares of NASDAQ:AZPN remained flat at $264.33 during mid-day trading on Tuesday. The company has a market cap of $16.73 billion, a PE ratio of 3,304.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The company has a 50 day moving average price of $261.31 and a 200 day moving average price of $248.36. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $277.37.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) 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%. 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.