Retirement Systems of Alabama Sells 2,119 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brown Brothers Harriman & Co. lifted its position in shares of Aspen Technology by 31.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company's stock worth $39,728,000 after purchasing an additional 39,396 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new position in Aspen Technology in the second quarter valued at $3,042,000. Citigroup Inc. boosted its position in Aspen Technology by 15.9% during the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company's stock valued at $5,550,000 after acquiring an additional 3,186 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Aspen Technology by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company's stock worth $40,082,000 after acquiring an additional 10,327 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company's stock worth $139,156,000 after acquiring an additional 28,820 shares during the period. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Piper Sandler upped their target price on Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Berenberg Bank lowered Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America raised their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Robert W. Baird boosted their target price on shares of Aspen Technology from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Finally, Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $258.00.

Aspen Technology Price Performance

Shares of NASDAQ:AZPN traded down $2.95 during trading on Wednesday, reaching $246.30. 575,049 shares of the stock were exchanged, compared to its average volume of 253,272. The stock has a fifty day moving average of $244.05 and a two-hundred day moving average of $221.93. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $254.44. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of -424.66, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm's quarterly revenue was down 13.4% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. Sell-side analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current 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.