Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 904,406 shares of the technology company's stock after selling 80,938 shares during the period. Nordea Investment Management AB owned 1.42% of Aspen Technology worth $191,422,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Aspen Technology by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 612,024 shares of the technology company's stock worth $134,737,000 after buying an additional 44,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Aspen Technology by 2.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,662 shares of the technology company's stock worth $91,508,000 after buying an additional 8,856 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Aspen Technology by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company's stock worth $68,931,000 after buying an additional 16,649 shares during the period. Raymond James & Associates lifted its holdings in Aspen Technology by 8.0% in the first quarter. Raymond James & Associates now owns 257,166 shares of the technology company's stock worth $54,848,000 after buying an additional 18,979 shares during the period. Finally, Fiera Capital Corp lifted its holdings in Aspen Technology by 6.3% in the fourth quarter. Fiera Capital Corp now owns 211,388 shares of the technology company's stock worth $46,537,000 after buying an additional 12,475 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

Shares of AZPN traded up $0.73 on Monday, hitting $198.89. 180,237 shares of the stock traded hands, compared to its average volume of 205,682. The company has a market capitalization of $12.60 billion, a PE ratio of -452.01, a P/E/G ratio of 2.46 and a beta of 0.73. The business has a 50 day simple moving average of $204.65 and a 200 day simple moving average of $202.20. Aspen Technology, Inc. has a one year low of $162.26 and a one year high of $224.77.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.39. The company had revenue of $278.11 million during the quarter, compared to the consensus estimate of $251.65 million. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. On average, equities analysts expect that Aspen Technology, Inc. will post 5.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird reaffirmed an "outperform" rating and set a $230.00 target price on shares of Aspen Technology in a research note on Friday, June 14th. Piper Sandler decreased their target price on shares of Aspen Technology from $196.00 to $180.00 and set a "neutral" rating for the company in a research note on Wednesday, May 8th. Berenberg Bank raised shares of Aspen Technology from a "hold" rating to a "buy" rating and raised their target price for the company from $185.00 to $255.00 in a research note on Friday, May 17th. Finally, William Blair raised shares of Aspen Technology to a "hold" rating in a research note on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $219.50.

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.