Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,273 shares of the technology company's stock after selling 2,119 shares during the quarter. Retirement Systems of Alabama owned about 0.05% of Aspen Technology worth $7,707,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Tortoise Investment Management LLC grew its position in shares of Aspen Technology by 77.8% during 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 in the last quarter. Crewe Advisors LLC grew its holdings in Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company's stock valued at $31,000 after buying an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Aspen Technology in the 2nd quarter worth approximately $37,000. Quent Capital LLC raised its holdings in shares of Aspen Technology by 364.9% during the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company's stock worth $41,000 after acquiring an additional 135 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Aspen Technology during the 3rd quarter valued at approximately $48,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $249.25 on Wednesday. The company has a market cap of $15.77 billion, a PE ratio of -429.74, a P/E/G ratio of 2.89 and a beta of 0.76. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.44. The firm's 50 day moving average price is $244.05 and its 200-day moving average price is $221.93.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AZPN shares. StockNews.com assumed coverage on shares of Aspen Technology in a report on Monday. They issued a "hold" rating on the stock. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Piper Sandler raised their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird raised their price target on Aspen Technology from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $258.00.

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.