Bamco Inc. NY Sells 51,452 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Bamco Inc. NY reduced its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 9.9% during the third quarter, Holdings Channel.com reports. The fund owned 468,011 shares of the technology company’s stock after selling 51,452 shares during the quarter. Bamco Inc. NY’s holdings in Aspen Technology were worth $111,770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tortoise Investment Management LLC grew its holdings in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Mather Group LLC. lifted its position in Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares during the last quarter. Crewe Advisors LLC grew its stake in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after buying an additional 119 shares in the last quarter. Quent Capital LLC grew its stake in Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after buying an additional 135 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of NASDAQ:AZPN 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 firm has a fifty day simple moving average of $240.40 and a two-hundred day simple moving average of $219.14. The stock has a market capitalization of $15.81 billion, a P/E ratio of -431.03, a PEG ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share 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 business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. During the same quarter last year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. On average, analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on AZPN shares. Robert W. Baird lifted their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler lifted their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. 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 report on Thursday, September 19th. Finally, StockNews.com began coverage on shares of Aspen Technology in a research note on Saturday. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $253.00.

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.