Wesbanco Bank Inc. Acquires Shares of 1,628 Aspen Technology, Inc. (NASDAQ:AZPN)

Posted by on Mar 28th, 2023

Wesbanco Bank Inc. acquired a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,628 shares of the technology company’s stock, valued at approximately $334,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Aspen Technology by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,336,062 shares of the technology company’s stock valued at $1,047,795,000 after purchasing an additional 51,393 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Aspen Technology by 16.2% in the third quarter. BlackRock Inc. now owns 3,281,955 shares of the technology company’s stock worth $781,763,000 after buying an additional 457,024 shares in the last quarter. FMR LLC lifted its holdings in shares of Aspen Technology by 1.0% in the second quarter. FMR LLC now owns 2,126,791 shares of the technology company’s stock worth $390,648,000 after buying an additional 20,536 shares in the last quarter. State Street Corp lifted its holdings in shares of Aspen Technology by 2.1% in the first quarter. State Street Corp now owns 1,812,165 shares of the technology company’s stock worth $299,678,000 after buying an additional 36,999 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Aspen Technology by 5.3% in the third quarter. Nordea Investment Management AB now owns 950,946 shares of the technology company’s stock worth $224,128,000 after buying an additional 47,961 shares in the last quarter. 44.40% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Price Performance

Shares of AZPN opened at $206.84 on Tuesday. The firm’s 50 day simple moving average is $207.47 and its 200 day simple moving average is $220.62. The company has a market capitalization of $13.40 billion, a P/E ratio of 195.13, a P/E/G ratio of 1.83 and a beta of 0.94. Aspen Technology, Inc. has a 1-year low of $148.93 and a 1-year high of $263.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AZPN shares. KeyCorp lowered their price target on shares of Aspen Technology from $280.00 to $244.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Robert W. Baird lowered their price target on shares of Aspen Technology from $224.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, January 26th. Loop Capital lowered their price target on shares of Aspen Technology from $255.00 to $230.00 in a report on Thursday, January 26th. Piper Sandler lowered their target price on shares of Aspen Technology from $240.00 to $195.00 and set a “neutral” rating on the stock in a research note on Thursday, January 26th. Finally, StockNews.com began coverage on shares of Aspen Technology in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $218.50.

Aspen Technology Profile

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Aspen Technology together with its subsidiaries develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes. Its software applications utilize proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.

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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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