Retirement Systems of Alabama Cuts Stock Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

Retirement Systems of Alabama lowered its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,103 shares of the technology company’s stock after selling 312 shares during the quarter. Retirement Systems of Alabama owned about 0.06% of Aspen Technology worth $7,728,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AZPN. Fifth Third Bancorp boosted its position in shares of Aspen Technology by 94.4% during the 3rd quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock valued at $71,000 after acquiring an additional 170 shares during the last quarter. Signaturefd LLC raised its position in Aspen Technology by 152.3% in the 3rd quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock worth $102,000 after purchasing an additional 300 shares during the period. Steph & Co. boosted its holdings in Aspen Technology by 49.2% during the 3rd quarter. Steph & Co. now owns 861 shares of the technology company’s stock valued at $176,000 after acquiring an additional 284 shares during the period. Quantum Private Wealth LLC bought a new position in Aspen Technology in the 3rd quarter valued at $202,000. Finally, Austin Private Wealth LLC purchased a new stake in Aspen Technology in the fourth quarter worth $202,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AZPN. StockNews.com raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Piper Sandler reiterated a “neutral” rating and set a $196.00 target price on shares of Aspen Technology in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $203.67.

Aspen Technology Trading Up 0.4 %

Shares of NASDAQ AZPN opened at $202.10 on Friday. Aspen Technology, Inc. has a 12-month low of $161.32 and a 12-month high of $224.77. The stock’s fifty day simple moving average is $202.15 and its two-hundred day simple moving average is $196.30. The stock has a market capitalization of $12.84 billion, a PE ratio of -149.70, a price-to-earnings-growth ratio of 2.04 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The company had revenue of $257.16 million for the quarter, compared to analysts’ expectations of $259.70 million. Aspen Technology had a positive return on equity of 2.38% and a negative net margin of 8.17%. On average, equities analysts predict that Aspen Technology, Inc. will post 5.82 earnings per share for the current fiscal year.

Aspen Technology 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.