Aspen Technology, Inc. (NASDAQ:AZPN) Position Cut by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 37.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,501 shares of the technology company’s stock after selling 196,219 shares during the period. Wellington Management Group LLP’s holdings in Aspen Technology were worth $78,930,000 as of its most recent SEC filing.

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

Aspen Technology Stock Down 0.4 %

AZPN opened at $251.95 on Wednesday. The firm has a market cap of $15.94 billion, a PE ratio of -434.40, a P/E/G ratio of 2.87 and a beta of 0.76. The business has a fifty day simple moving average of $242.64 and a 200-day simple moving average of $220.65. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $254.44.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates 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 positive return on equity of 2.81% and a negative net margin of 3.26%. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America raised their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. StockNews.com initiated coverage on Aspen Technology in a research report on Sunday. They set a “hold” rating on the stock. Piper Sandler upped their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Loop Capital boosted 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Aspen Technology has an average rating of “Hold” and an average price target of $253.00.

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.