Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. reduced its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 30.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,843 shares of the technology company’s stock after selling 4,328 shares during the quarter. Brown Advisory Inc.’s holdings in Aspen Technology were worth $2,167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AZPN. Wellington Management Group LLP lifted its position in shares of Aspen Technology by 116.1% in the third quarter. Wellington Management Group LLP now owns 567,200 shares of the technology company’s stock valued at $115,856,000 after acquiring an additional 304,712 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Aspen Technology during the fourth quarter worth about $31,309,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Aspen Technology by 3.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,721,956 shares of the technology company’s stock worth $760,247,000 after buying an additional 124,934 shares during the period. Nordea Investment Management AB lifted its position in Aspen Technology by 12.9% during the third quarter. Nordea Investment Management AB now owns 1,044,959 shares of the technology company’s stock worth $215,920,000 after buying an additional 119,102 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Aspen Technology by 30.7% during the third quarter. Envestnet Asset Management Inc. now owns 134,486 shares of the technology company’s stock worth $27,470,000 after buying an additional 31,565 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

AZPN stock opened at $219.03 on Friday. Aspen Technology, Inc. has a 1 year low of $161.32 and a 1 year high of $224.77. The firm has a market cap of $13.87 billion, a P/E ratio of -497.78, a price-to-earnings-growth ratio of 2.80 and a beta of 0.76. The stock has a 50-day simple moving average of $205.60 and a 200-day simple moving average of $199.10.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $185.00 to $255.00 in a research report on Friday, May 17th. William Blair upgraded Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. StockNews.com upgraded Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Piper Sandler dropped their price target on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, Robert W. Baird upped their price target on Aspen Technology from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $219.50.

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.