Bank of New York Mellon Corp Has $57.50 Million Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Bank of New York Mellon Corp lowered its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,344 shares of the technology company's stock after selling 5,240 shares during the quarter. Bank of New York Mellon Corp owned about 0.36% of Aspen Technology worth $57,501,000 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. Blue Trust Inc. increased its holdings in Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company's stock valued at $58,000 after buying an additional 228 shares during the period. GAMMA Investing LLC increased its holdings in Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company's stock valued at $63,000 after buying an additional 58 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Aspen Technology by 126.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company's stock valued at $68,000 after buying an additional 151 shares during the period. Anchor Investment Management LLC bought a new stake in Aspen Technology in the 3rd quarter valued at $77,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Aspen Technology in the 3rd quarter worth about $116,000. Institutional investors own 45.66% of the company's stock.

Aspen Technology Trading Up 0.1 %

NASDAQ AZPN traded up $0.24 on Friday, hitting $265.25. 673,308 shares of the company were exchanged, compared to its average volume of 631,907. The firm has a 50 day moving average of $259.62 and a two-hundred day moving average of $246.02. The company has a market cap of $16.79 billion, a P/E ratio of 3,316.04, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $277.37.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AZPN shares. Loop Capital raised shares of Aspen Technology from a "hold" rating to a "buy" rating and upped their target price for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Piper Sandler upped their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. StockNews.com started coverage on shares of Aspen Technology in a report on Thursday. They issued a "hold" rating on the stock. Robert W. Baird reaffirmed a "neutral" rating and issued a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Finally, Baird R W lowered shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.