Bamco Inc. NY Sells 51,452 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Bamco Inc. NY cut its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 468,011 shares of the technology company’s stock after selling 51,452 shares during the quarter. Bamco Inc. NY owned approximately 0.74% of Aspen Technology worth $111,770,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Aspen Technology by 1,034.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock valued at $7,895,000 after acquiring an additional 35,056 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in Aspen Technology in the second quarter worth $3,042,000. Brown Brothers Harriman & Co. grew 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 purchasing an additional 39,396 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Aspen Technology by 89.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock valued at $432,000 after purchasing an additional 998 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock worth $139,156,000 after purchasing an additional 28,820 shares during the period. 45.66% of the stock is owned by institutional investors.

Aspen Technology Stock Performance

Aspen Technology stock opened at $250.00 on Monday. The firm has a 50 day simple moving average of $240.40 and a 200 day simple moving average of $219.14. Aspen Technology, Inc. has a 1-year low of $171.25 and a 1-year high of $254.04. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of -431.03, a P/E/G ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly 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). The company had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. Aspen Technology’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 earnings per share. On average, equities research analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AZPN shares. Loop Capital increased their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler upped their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird raised their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $253.00.

About Aspen Technology

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.