Truist Financial Corp Has $6.65 Million Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Truist Financial Corp decreased its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,618 shares of the technology company’s stock after selling 633 shares during the quarter. Truist Financial Corp’s holdings in Aspen Technology were worth $6,645,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. CIBC Asset Management Inc boosted its stake in Aspen Technology by 9.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,219 shares of the technology company’s stock valued at $554,000 after buying an additional 187 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Aspen Technology in the 4th quarter valued at $2,991,000. Blue Trust Inc. raised its position in Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after purchasing an additional 228 shares during the last quarter. Stephens Inc. AR raised its position in Aspen Technology by 2.4% in the 4th quarter. Stephens Inc. AR now owns 3,210 shares of the technology company’s stock valued at $801,000 after purchasing an additional 75 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Aspen Technology by 126.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock valued at $68,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AZPN. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, StockNews.com started coverage on Aspen Technology in a research report on Tuesday, February 18th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Trading Down 0.0 %

NASDAQ AZPN opened at $263.90 on Friday. The stock has a 50-day simple moving average of $256.70 and a 200 day simple moving average of $242.53. The company has a market capitalization of $16.71 billion, a PE ratio of 3,299.16, a P/E/G ratio of 3.01 and a beta of 0.76. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Aspen Technology, Inc. will post 6.7 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.