Clearbridge Investments LLC Cuts Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Clearbridge Investments LLC reduced its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 84.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,157 shares of the technology company’s stock after selling 385,980 shares during the quarter. Clearbridge Investments LLC owned approximately 0.11% of Aspen Technology worth $17,513,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Aspen Technology in the fourth quarter valued at approximately $26,000. Atala Financial Inc acquired a new position in shares of Aspen Technology in the fourth quarter worth $44,000. Jones Financial Companies Lllp grew its stake in shares of Aspen Technology by 965.0% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock worth $53,000 after acquiring an additional 193 shares in the last quarter. Blue Trust Inc. increased its position in shares of Aspen Technology by 5,700.0% during the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after acquiring an additional 228 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after acquiring an additional 58 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Price Performance

NASDAQ AZPN opened at $264.33 on Thursday. The company has a fifty day moving average of $264.31 and a two-hundred day moving average of $251.30. Aspen Technology, Inc. has a 1 year low of $171.25 and a 1 year high of $277.37. The company has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts expect that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Analyst Ratings Changes

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

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.