State Street Corp Reduces Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

State Street Corp lessened its holdings in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 1.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 997,253 shares of the technology company's stock after selling 19,833 shares during the period. State Street Corp owned 1.58% of Aspen Technology worth $238,164,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Bank of America upped 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. Robert W. Baird increased their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Wednesday. Berenberg Bank lowered Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, StockNews.com started coverage on shares of Aspen Technology in a research note on Sunday. They set a "hold" rating on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $258.00.

Aspen Technology Trading Down 0.9 %

AZPN traded down $2.19 during midday trading on Thursday, hitting $250.97. 722,516 shares of the company traded hands, compared to its average volume of 249,525. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of -432.71, a PEG ratio of 2.87 and a beta of 0.76. The business has a 50 day simple moving average of $243.33 and a two-hundred day simple moving average of $221.09. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.44.

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 for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm had revenue of $215.90 million during the quarter, compared to analysts' expectations of $265.04 million. During the same quarter last year, the business earned $0.96 EPS. The business's revenue was down 13.4% compared to the same quarter last year. Equities research analysts anticipate that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

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.