Aspen Technology, Inc. (NASDAQ:AZPN) Holdings Trimmed by Clean Energy Transition LLP

Clean Energy Transition LLP cut its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 8.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 96,149 shares of the technology company’s stock after selling 9,051 shares during the period. Aspen Technology comprises approximately 1.2% of Clean Energy Transition LLP’s portfolio, making the stock its 7th largest holding. Clean Energy Transition LLP’s holdings in Aspen Technology were worth $22,962,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Commerce Bank lifted its position in shares of Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares during the last quarter. US Bancorp DE increased its holdings in shares of Aspen Technology by 0.4% in the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after acquiring an additional 50 shares during the last quarter. LRI Investments LLC lifted its stake in Aspen Technology by 6.7% during the second quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock worth $171,000 after purchasing an additional 54 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Aspen Technology by 1.8% in the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after purchasing an additional 55 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its stake in Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZPN has been the subject of several research analyst reports. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler raised their price objective on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Loop Capital raised their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird boosted their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Four 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.com, Aspen Technology presently has an average rating of “Hold” and an average price target of $253.00.

Aspen Technology Price Performance

Shares of AZPN stock opened at $250.00 on Monday. Aspen Technology, Inc. has a 52-week low of $171.25 and a 52-week high of $254.04. The stock’s 50-day moving average price is $240.40 and its 200 day moving average price is $219.14. The stock has a market capitalization of $15.81 billion, a PE ratio of -431.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The company had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter last year, the company earned $0.96 EPS. Aspen Technology’s revenue for the quarter was down 13.4% compared to the same quarter last year. Analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

Aspen Technology Company 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.