Victory Capital Management Inc. Sells 1,327 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Victory Capital Management Inc. lowered its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 12.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,325 shares of the technology company's stock after selling 1,327 shares during the period. Victory Capital Management Inc.'s holdings in Aspen Technology were worth $2,328,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Aspen Technology by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company's stock worth $42,524,000 after purchasing an additional 2,518 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company's stock worth $86,799,000 after buying an additional 171,351 shares during the period. Brown Brothers Harriman & Co. boosted its stake in Aspen Technology by 31.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company's stock valued at $39,728,000 after buying an additional 39,396 shares in the last quarter. Citigroup Inc. grew its position in Aspen Technology by 15.9% in the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company's stock valued at $5,550,000 after acquiring an additional 3,186 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Aspen Technology by 37,990.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company's stock worth $158,318,000 after acquiring an additional 632,545 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

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Aspen Technology Price Performance

AZPN remained flat at $264.33 during trading on Friday. The company has a fifty day simple moving average of $262.06 and a two-hundred day simple moving average of $248.80. The stock has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a PEG 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.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share 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%. As a group, analysts anticipate that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZPN. 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 initiated coverage on shares of Aspen Technology in a report on Friday, March 14th. They set a "hold" rating on the stock. Loop Capital raised shares of Aspen Technology from a "hold" rating to a "buy" rating and raised their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Baird R W downgraded Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 27th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.