UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 48,554 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 16.2% in the third quarter, HoldingsChannel.com reports. The fund owned 251,413 shares of the technology company’s stock after selling 48,554 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Aspen Technology were worth $60,042,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Tidal Investments LLC raised its stake in Aspen Technology by 53.4% during the first quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock worth $361,000 after acquiring an additional 589 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Aspen Technology in the first quarter valued at approximately $262,000. GAMMA Investing LLC boosted its position in Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after buying an additional 130 shares in the last quarter. Finally, OLD National Bancorp IN bought a new position in shares of Aspen Technology in the 2nd quarter valued at $390,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Analyst Ratings Changes

AZPN has been the topic of a number of research reports. Loop Capital boosted their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler upped their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Bank of America lifted their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, StockNews.com initiated coverage on shares of Aspen Technology in a research report on Saturday. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Aspen Technology has a consensus rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Trading Down 0.7 %

Shares of Aspen Technology stock opened at $248.34 on Tuesday. The business’s fifty day simple moving average is $240.69 and its 200 day simple moving average is $219.38. Aspen Technology, Inc. has a 12 month low of $171.25 and a 12 month high of $254.04. The firm has a market capitalization of $15.71 billion, a P/E ratio of -428.17, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. Analysts predict that Aspen Technology, Inc. will post 6.68 EPS 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.