Principal Financial Group Inc. Has $15.82 Million Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Principal Financial Group Inc. cut its holdings in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 48.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,370 shares of the technology company's stock after selling 59,371 shares during the period. Principal Financial Group Inc. owned 0.10% of Aspen Technology worth $15,819,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Aspen Technology by 5,700.0% during the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company's stock worth $58,000 after buying an additional 228 shares in the last quarter. GAMMA Investing LLC grew its position in Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company's stock worth $63,000 after buying an additional 58 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Aspen Technology by 126.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company's stock worth $68,000 after buying an additional 151 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in Aspen Technology during the third quarter worth about $77,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Aspen Technology during the third quarter worth about $116,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Trading Up 0.4 %

NASDAQ AZPN traded up $1.16 during trading hours on Friday, reaching $265.25. 573,632 shares of the company's stock were exchanged, compared to its average volume of 638,083. The stock has a market cap of $16.79 billion, a PE ratio of 3,316.04, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $277.37. The firm has a fifty day moving average of $258.18 and a 200-day moving average of $244.21.

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Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. As a group, research analysts forecast that Aspen Technology, Inc. will post 6.7 EPS for the current year.

Analysts Set New Price Targets

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

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.