NewEdge Wealth LLC Trims Holdings in Aspen Technology, Inc. (NASDAQ:AZPN)

NewEdge Wealth LLC reduced its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,304 shares of the technology company’s stock after selling 626 shares during the period. NewEdge Wealth LLC’s holdings in Aspen Technology were worth $6,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in 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 purchasing an additional 228 shares during the last quarter. GAMMA Investing LLC lifted its stake in Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after purchasing an additional 58 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Aspen Technology by 126.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock worth $68,000 after purchasing an additional 151 shares during the last quarter. Anchor Investment Management LLC bought a new position in Aspen Technology during the third quarter worth $77,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Aspen Technology during the third quarter worth $116,000. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Stock Up 0.2 %

NASDAQ:AZPN opened at $264.09 on Friday. The business’s 50-day moving average price is $257.59 and its 200 day moving average price is $243.68. The firm has a market cap of $16.72 billion, a P/E ratio of 3,301.54, a PEG ratio of 3.00 and a beta of 0.76. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $277.37.

Aspen Technology (NASDAQ:AZPN) last released its 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%. Sell-side analysts expect that Aspen Technology, Inc. will post 6.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. StockNews.com assumed coverage on Aspen Technology in a research report on Wednesday. They issued a “hold” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. Finally, Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Aspen Technology has an average rating of “Hold” and a consensus price target 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.