Geode Capital Management LLC Lowers Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Geode Capital Management LLC decreased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 565,446 shares of the technology company's stock after selling 4,558 shares during the quarter. Geode Capital Management LLC owned 0.89% of Aspen Technology worth $135,137,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Commerce Bank lifted 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 purchasing an additional 47 shares in the last quarter. US Bancorp DE lifted its stake in Aspen Technology by 0.4% during the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company's stock valued at $3,271,000 after acquiring an additional 50 shares in the last quarter. LRI Investments LLC boosted its holdings in Aspen Technology by 6.7% during the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company's stock worth $171,000 after acquiring an additional 54 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Aspen Technology by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company's stock worth $736,000 after acquiring an additional 55 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in shares of Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company's stock.

Aspen Technology Trading Down 0.8 %

Shares of AZPN stock traded down $1.99 on Tuesday, hitting $249.25. 408,693 shares of the stock were exchanged, compared to its average volume of 251,856. The firm's 50 day moving average is $243.79 and its two-hundred day moving average is $221.65. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $254.44. The firm has a market capitalization of $15.77 billion, a PE ratio of -431.33, a P/E/G ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS. On average, sell-side analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZPN has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on shares of Aspen Technology in a research report on Monday. They issued a "hold" rating for the company. Loop Capital upped their target price on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Robert W. Baird lifted their price target on Aspen Technology from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Berenberg Bank downgraded Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, Piper Sandler lifted their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Aspen Technology presently has a consensus rating of "Hold" and a consensus target price of $258.00.

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.