Axxcess Wealth Management LLC Sells 145 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Axxcess Wealth Management LLC cut its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,334 shares of the technology company’s stock after selling 145 shares during the period. Axxcess Wealth Management LLC’s holdings in Aspen Technology were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Atala Financial Inc acquired a new stake in shares of Aspen Technology during the 4th quarter worth approximately $44,000. Impact Capital Partners LLC acquired a new stake in shares of Aspen Technology during the 4th quarter worth approximately $1,009,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of Aspen Technology by 6.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 7,763 shares of the technology company’s stock worth $1,933,000 after buying an additional 484 shares during the period. Vestcor Inc grew its position in shares of Aspen Technology by 2,238.8% during the 4th quarter. Vestcor Inc now owns 15,670 shares of the technology company’s stock worth $3,912,000 after buying an additional 15,000 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Aspen Technology by 5.1% during the 4th quarter. HighTower Advisors LLC now owns 3,386 shares of the technology company’s stock worth $845,000 after buying an additional 165 shares during the period. 45.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AZPN. Robert W. Baird restated a “neutral” rating and set a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Piper Sandler boosted their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Saturday. They issued a “hold” rating on the stock. Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Price Performance

Shares of AZPN stock opened at $264.33 on Friday. The company’s fifty day simple moving average is $262.36 and its 200-day simple moving average is $249.17. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $277.37. The firm has a market cap of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

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 the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. On average, equities analysts predict that Aspen Technology, Inc. will post 6.7 earnings per share for the current fiscal year.

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.