Aspen Technology (NASDAQ:AZPN) Trading Down 5.9%

Aspen Technology, Inc. (NASDAQ:AZPN) dropped 5.9% on Tuesday . The stock traded as low as $185.34 and last traded at $185.82. Approximately 465,071 shares were traded during trading, an increase of 132% from the average daily volume of 200,788 shares. The stock had previously closed at $197.54.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AZPN shares. StockNews.com upgraded Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Piper Sandler restated a “neutral” rating and issued a $196.00 target price on shares of Aspen Technology in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $203.67.

Aspen Technology Stock Down 4.4 %

The stock’s fifty day moving average price is $202.37 and its 200 day moving average price is $196.38.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). Aspen Technology had a positive return on equity of 2.38% and a negative net margin of 8.17%. The company had revenue of $257.16 million during the quarter, compared to the consensus estimate of $259.70 million. On average, research analysts predict that Aspen Technology, Inc. will post 5.82 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Aspen Technology by 116.1% during the 3rd quarter. Wellington Management Group LLP now owns 567,200 shares of the technology company’s stock worth $115,856,000 after buying an additional 304,712 shares in the last quarter. Norges Bank purchased a new position in Aspen Technology during the 4th quarter valued at about $31,630,000. International Assets Investment Management LLC bought a new stake in shares of Aspen Technology in the 4th quarter valued at about $31,309,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Aspen Technology by 3.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,721,956 shares of the technology company’s stock worth $760,247,000 after purchasing an additional 124,934 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Aspen Technology by 12.9% during the third quarter. Nordea Investment Management AB now owns 1,044,959 shares of the technology company’s stock valued at $215,920,000 after purchasing an additional 119,102 shares in the last quarter. Institutional investors own 45.66% of the company’s stock.

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.