Aspen Technology, Inc. (NASDAQ:AZPN) Holdings Decreased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. reduced its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,321 shares of the technology company’s stock after selling 130 shares during the period. Summit Investment Advisors Inc.’s holdings in Aspen Technology were worth $1,328,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Aspen Technology in the fourth quarter worth approximately $26,000. Atala Financial Inc purchased a new stake in Aspen Technology in the 4th quarter worth approximately $44,000. Bessemer Group Inc. boosted its stake in shares of Aspen Technology by 29.7% during the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock valued at $48,000 after buying an additional 44 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of 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 in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Aspen Technology by 5,700.0% in 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 last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AZPN has been the topic of a number of recent research reports. StockNews.com started coverage on Aspen Technology in a research note on Tuesday. They issued a “hold” rating on the stock. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Piper Sandler raised 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. 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. Finally, Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $272.00.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $264.33 on Thursday. The company’s 50 day moving average is $264.47 and its 200-day moving average is $253.57. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Research analysts predict that Aspen Technology, Inc. will post 6.7 EPS 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.