Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 56.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,575 shares of the technology company's stock after selling 3,304 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Aspen Technology were worth $615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AZPN. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Aspen Technology during the 2nd quarter valued at about $3,042,000. Brown Brothers Harriman & Co. grew its holdings in shares of Aspen Technology by 31.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company's stock worth $39,728,000 after acquiring an additional 39,396 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Aspen Technology by 5.2% in 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Aspen Technology during the third quarter valued at approximately $713,000. Finally, Citigroup Inc. boosted its position in shares of 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 purchasing an additional 3,186 shares in the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

Shares of AZPN traded up $0.25 on Tuesday, reaching $248.59. The company's stock had a trading volume of 863,630 shares, compared to its average volume of 241,550. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $254.04. The stock's 50 day simple moving average is $240.69 and its two-hundred day simple moving average is $219.38.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the company posted $0.96 earnings per share. The company's revenue was down 13.4% compared to the same quarter last year. On average, equities research analysts predict that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com initiated coverage on shares of Aspen Technology in a report on Saturday. They set a "hold" rating on the stock. Bank of America boosted their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Loop Capital increased their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Piper Sandler boosted their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Finally, Berenberg Bank downgraded shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $253.00.

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.