Dynasty Wealth Management LLC Lowers Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Dynasty Wealth Management LLC lowered its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,416 shares of the technology company’s stock after selling 92 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Aspen Technology were worth $353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Aspen Technology by 5,700.0% during the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after purchasing an additional 228 shares in the last quarter. GAMMA Investing LLC lifted its stake in Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after buying an additional 58 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Aspen Technology by 126.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock valued at $68,000 after buying an additional 151 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Aspen Technology in the 3rd quarter valued at about $77,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Aspen Technology in the 3rd quarter valued at about $116,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZPN. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Robert W. Baird restated a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. StockNews.com started coverage on shares of Aspen Technology in a research note on Wednesday. They issued a “hold” rating on the stock. Finally, Piper Sandler raised their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Aspen Technology presently has a consensus rating of “Hold” and an average price target of $272.00.

Aspen Technology Stock Up 0.4 %

NASDAQ AZPN opened at $265.25 on Friday. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $277.37. The business’s fifty day simple moving average is $257.89 and its 200-day simple moving average is $243.82. The firm has a market cap of $16.79 billion, a PE ratio of 3,316.04, a P/E/G ratio of 3.00 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Research analysts expect that Aspen Technology, Inc. will post 6.7 EPS for the current year.

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.