Wellington Management Group LLP Reduces Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Wellington Management Group LLP cut its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN - Free Report) by 37.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 330,501 shares of the technology company's stock after selling 196,219 shares during the period. Wellington Management Group LLP owned 0.52% of Aspen Technology worth $78,930,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cetera Advisors LLC acquired a new position in Aspen Technology in the first quarter valued at $262,000. SG Americas Securities LLC acquired a new position in Aspen Technology in the 2nd quarter valued at about $824,000. V Square Quantitative Management LLC purchased a new stake in Aspen Technology during the 2nd quarter valued at approximately $63,000. Assenagon Asset Management S.A. lifted its position in Aspen Technology by 4.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company's stock worth $305,000 after acquiring an additional 60 shares during the period. Finally, Everpar Advisors LLC grew its stake in shares of Aspen Technology by 7.0% in the 2nd quarter. Everpar Advisors LLC now owns 2,121 shares of the technology company's stock valued at $421,000 after purchasing an additional 138 shares during the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AZPN has been the subject of several analyst reports. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. StockNews.com initiated coverage on shares of Aspen Technology in a research report on Sunday. They set a "hold" rating for the company. Loop Capital lifted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Bank of America increased their price target 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. Finally, Piper Sandler boosted their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $258.00.

Aspen Technology Stock Up 0.5 %

Shares of NASDAQ AZPN traded up $1.21 during midday trading on Wednesday, hitting $253.16. The company had a trading volume of 361,328 shares, compared to its average volume of 247,545. The business has a 50-day simple moving average of $242.64 and a two-hundred day simple moving average of $220.65. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $254.44. The firm has a market capitalization of $16.01 billion, a price-to-earnings ratio of -434.40, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm had revenue of $215.90 million for the quarter, compared to analysts' expectations of $265.04 million. During the same period last year, the firm earned $0.96 EPS. Aspen Technology's revenue was down 13.4% compared to the same quarter last year. On average, equities analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current year.

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.