Sumitomo Mitsui Trust Group Inc. Purchases 28,820 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Sumitomo Mitsui Trust Group Inc. increased its position in Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 582,682 shares of the technology company's stock after purchasing an additional 28,820 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.92% of Aspen Technology worth $139,156,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AZPN. Venturi Wealth Management LLC boosted its stake in Aspen Technology by 62.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,350 shares of the technology company's stock valued at $322,000 after buying an additional 518 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Aspen Technology by 16.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,187 shares of the technology company's stock worth $522,000 after purchasing an additional 303 shares during the last quarter. Covestor Ltd increased its position in shares of Aspen Technology by 47.7% during the 3rd quarter. Covestor Ltd now owns 542 shares of the technology company's stock worth $130,000 after purchasing an additional 175 shares in the last quarter. ABLE Financial Group LLC lifted its holdings in Aspen Technology by 5.9% during the 3rd quarter. ABLE Financial Group LLC now owns 6,422 shares of the technology company's stock valued at $1,534,000 after purchasing an additional 359 shares during the last quarter. Finally, Quantum Private Wealth LLC acquired a new position in Aspen Technology in the third quarter valued at about $235,000. Institutional investors and hedge funds own 45.66% of the company's stock.

Aspen Technology Price Performance

Shares of AZPN stock traded down $0.03 on Wednesday, reaching $246.05. 429,812 shares of the stock were exchanged, compared to its average volume of 226,276. The stock has a 50 day moving average price of $235.80 and a 200 day moving average price of $215.15. The stock has a market cap of $15.56 billion, a PE ratio of -424.22, a P/E/G ratio of 2.81 and a beta of 0.76. Aspen Technology, Inc. has a one year low of $171.25 and a one year high of $249.91.

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 analysts' consensus estimates 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 business had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business's revenue for the quarter was down 13.4% on a year-over-year basis. On average, research analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AZPN shares. 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 report on Wednesday, September 18th. Robert W. Baird lifted their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. Piper Sandler lifted their price target on Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Loop Capital upped their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Four 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 a consensus rating of "Hold" and a consensus target price of $253.00.

Insiders Place Their Bets

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total value of $219,100.00. Following the transaction, the director now owns 8,540 shares of the company's stock, valued at $1,871,114. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.

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.