Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Janney Montgomery Scott LLC

Posted by Defense World Staff on Apr 23rd, 2023

Janney Montgomery Scott LLC trimmed its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,552 shares of the technology company’s stock after selling 698 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Aspen Technology were worth $4,222,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Aspen Technology in the third quarter valued at $662,551,000. BlackRock Inc. increased its stake in Aspen Technology by 16.2% during the third quarter. BlackRock Inc. now owns 3,281,955 shares of the technology company’s stock worth $781,763,000 after acquiring an additional 457,024 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Aspen Technology by 121.2% during the third quarter. Lord Abbett & CO. LLC now owns 552,630 shares of the technology company’s stock worth $131,636,000 after acquiring an additional 302,741 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Aspen Technology by 1,331.8% during the first quarter. Allianz Asset Management GmbH now owns 170,315 shares of the technology company’s stock worth $28,165,000 after acquiring an additional 158,420 shares during the last quarter. Finally, AXA S.A. acquired a new stake in Aspen Technology during the third quarter worth about $31,734,000. 44.40% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $234.76 on Friday. The business’s fifty day moving average price is $218.80 and its two-hundred day moving average price is $220.77. The company has a market capitalization of $15.21 billion, a P/E ratio of 221.47, a PEG ratio of 2.16 and a beta of 0.95. Aspen Technology, Inc. has a 1-year low of $148.93 and a 1-year high of $263.59.

Aspen Technology (NASDAQ:AZPN – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($1.07). Aspen Technology had a return on equity of 3.27% and a net margin of 5.96%. The firm had revenue of $242.84 million during the quarter, compared to the consensus estimate of $272.07 million. On average, research analysts expect that Aspen Technology, Inc. will post 6.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Loop Capital lowered their target price on Aspen Technology from $255.00 to $230.00 in a research note on Thursday, January 26th. Robert W. Baird reduced their target price on Aspen Technology from $224.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, January 26th. Berenberg Bank assumed coverage on Aspen Technology in a report on Wednesday, January 11th. They set a “hold” rating and a $210.00 target price on the stock. StockNews.com assumed coverage on Aspen Technology in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Piper Sandler cut their price target on Aspen Technology from $240.00 to $195.00 and set a “neutral” rating on the stock in a report on Thursday, January 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $221.17.

About Aspen Technology

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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.