Axxcess Wealth Management LLC Trims Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Axxcess Wealth Management LLC lessened its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 3.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,565 shares of the technology company’s stock after selling 59 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Aspen Technology were worth $345,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AZPN. Treasurer of the State of North Carolina raised its position in Aspen Technology by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 12,254 shares of the technology company’s stock valued at $2,503,000 after purchasing an additional 60 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Aspen Technology by 3.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,864 shares of the technology company’s stock valued at $410,000 after purchasing an additional 63 shares during the period. PNC Financial Services Group Inc. raised its position in Aspen Technology by 4.3% in the third quarter. PNC Financial Services Group Inc. now owns 1,592 shares of the technology company’s stock valued at $325,000 after purchasing an additional 66 shares during the period. SkyView Investment Advisors LLC increased its position in shares of Aspen Technology by 2.6% during the third quarter. SkyView Investment Advisors LLC now owns 2,778 shares of the technology company’s stock worth $567,000 after acquiring an additional 70 shares during the period. Finally, Alliance Wealth Advisors LLC UT increased its position in shares of Aspen Technology by 6.1% during the third quarter. Alliance Wealth Advisors LLC UT now owns 1,314 shares of the technology company’s stock worth $268,000 after acquiring an additional 76 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AZPN. StockNews.com upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Robert W. Baird decreased their target price on shares of Aspen Technology from $225.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Piper Sandler cut their price target on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Aspen Technology presently has an average rating of “Hold” and an average price target of $201.00.

Aspen Technology Trading Up 4.8 %

Shares of Aspen Technology stock opened at $197.79 on Thursday. Aspen Technology, Inc. has a 12-month low of $161.32 and a 12-month high of $224.77. The stock has a market cap of $12.57 billion, a PE ratio of -146.51, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The company has a 50-day moving average of $202.53 and a two-hundred day moving average of $196.45.

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