Mitsubishi UFJ Trust & Banking Corp Increases Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Posted by on Aug 23rd, 2023

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,723 shares of the technology company’s stock after buying an additional 761 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Aspen Technology were worth $3,827,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Compass Wealth Management LLC acquired a new position in Aspen Technology during the fourth quarter valued at $29,000. CENTRAL TRUST Co lifted its position in Aspen Technology by 104.2% during the first quarter. CENTRAL TRUST Co now owns 245 shares of the technology company’s stock valued at $56,000 after purchasing an additional 125 shares during the period. Brown Brothers Harriman & Co. lifted its position in Aspen Technology by 1,434.4% during the first quarter. Brown Brothers Harriman & Co. now owns 491 shares of the technology company’s stock valued at $81,000 after purchasing an additional 459 shares during the period. Seeyond acquired a new position in Aspen Technology during the fourth quarter valued at $96,000. Finally, Covestor Ltd lifted its position in Aspen Technology by 96.7% during the first quarter. Covestor Ltd now owns 665 shares of the technology company’s stock valued at $110,000 after purchasing an additional 327 shares during the period. 46.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 3,114 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $164.56, for a total transaction of $512,439.84. Following the completion of the sale, the director now owns 5,840 shares of the company’s stock, valued at $961,030.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AZPN. StockNews.com began coverage on shares of Aspen Technology in a research report on Thursday, August 17th. They set a “hold” rating for the company. Loop Capital boosted their target price on shares of Aspen Technology from $170.00 to $180.00 in a research report on Wednesday, August 2nd. Robert W. Baird upped their price objective on shares of Aspen Technology from $184.00 to $194.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. William Blair downgraded shares of Aspen Technology from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 27th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Aspen Technology in a research report on Wednesday, July 26th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $198.80.

Get Our Latest Analysis on AZPN

Aspen Technology Stock Performance

Shares of Aspen Technology stock opened at $193.80 on Wednesday. The firm has a 50-day simple moving average of $177.03 and a two-hundred day simple moving average of $191.88. The company has a market cap of $12.57 billion, a P/E ratio of -116.75, a price-to-earnings-growth ratio of 2.07 and a beta of 0.93. Aspen Technology, Inc. has a fifty-two week low of $161.32 and a fifty-two week high of $263.59.

Aspen Technology (NASDAQ:AZPN – Get Free Report) last released its earnings results on Tuesday, August 1st. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.07). The company had revenue of $320.64 million for the quarter, compared to analysts’ expectations of $324.78 million. Aspen Technology had a positive return on equity of 2.32% and a negative net margin of 10.32%. Equities research analysts forecast that Aspen Technology, Inc. will post 5.41 EPS for the current year.

Aspen Technology Profile

(Free Report)

Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.

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

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