TimesSquare Capital Management LLC Decreases Position in Aspen Technology, Inc. (NASDAQ:AZPN)

TimesSquare Capital Management LLC trimmed its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 18.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,900 shares of the technology company’s stock after selling 44,615 shares during the period. TimesSquare Capital Management LLC owned about 0.30% of Aspen Technology worth $42,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in Aspen Technology by 116.1% during the 3rd quarter. Wellington Management Group LLP now owns 567,200 shares of the technology company’s stock valued at $115,856,000 after buying an additional 304,712 shares during the period. International Assets Investment Management LLC purchased a new position in Aspen Technology during the 4th quarter valued at about $31,309,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Aspen Technology by 3.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,721,956 shares of the technology company’s stock valued at $760,247,000 after purchasing an additional 124,934 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Aspen Technology by 12.9% in the 3rd quarter. Nordea Investment Management AB now owns 1,044,959 shares of the technology company’s stock worth $215,920,000 after buying an additional 119,102 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Aspen Technology by 30.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 134,486 shares of the technology company’s stock worth $27,470,000 after buying an additional 31,565 shares during the last quarter. 45.66% of the stock is owned by institutional investors.

Aspen Technology Price Performance

NASDAQ AZPN traded up $8.15 during trading hours on Thursday, reaching $205.94. 441,402 shares of the company’s stock traded hands, compared to its average volume of 214,088. Aspen Technology, Inc. has a 52-week low of $161.32 and a 52-week high of $224.77. The firm has a 50-day simple moving average of $202.53 and a 200 day simple moving average of $196.45. The firm has a market cap of $13.09 billion, a PE ratio of -151.72, a PEG ratio of 2.05 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly 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. Sell-side analysts forecast that Aspen Technology, Inc. will post 5.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AZPN. Robert W. Baird dropped their price target on Aspen Technology from $225.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday. Piper Sandler reduced their price target on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, StockNews.com upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating 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 stock. Based on data from MarketBeat.com, Aspen Technology currently has an average rating of “Hold” and an average price target of $201.00.

Aspen Technology 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.