Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 76.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 76,509 shares of the technology company’s stock after selling 253,992 shares during the period. Wellington Management Group LLP’s holdings in Aspen Technology were worth $19,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Aspen Technology in the fourth quarter valued at about $26,000. Atala Financial Inc acquired a new position in Aspen Technology in the 4th quarter worth approximately $44,000. Jones Financial Companies Lllp lifted its stake in Aspen Technology by 965.0% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after acquiring an additional 193 shares during the period. Blue Trust Inc. boosted its holdings in shares of Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after acquiring an additional 228 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of 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 acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AZPN shares. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler boosted their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and raised their target price for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price target (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Finally, StockNews.com initiated coverage on shares of Aspen Technology in a research note on Monday. They set a “hold” rating on the stock. 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Stock Performance

Shares of AZPN opened at $264.33 on Tuesday. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37. The stock’s 50 day moving average is $264.68 and its two-hundred day moving average is $252.07. The firm 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 (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. Equities research analysts forecast that Aspen Technology, Inc. will post 6.7 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.