Sumitomo Mitsui Trust Group Inc. Has $139.16 Million Stake in Aspen Technology, Inc. (NASDAQ:AZPN)

Sumitomo Mitsui Trust Group Inc. increased its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 582,682 shares of the technology company’s stock after purchasing an additional 28,820 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Aspen Technology were worth $139,156,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Tortoise Investment Management LLC raised its holdings in Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Mather Group LLC. lifted its position in Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after acquiring an additional 130 shares in the last quarter. Crewe Advisors LLC boosted its stake in Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC increased its holdings in Aspen Technology by 65.7% during the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Aspen Technology during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $246.08 on Wednesday. The stock has a fifty day moving average price of $235.45 and a 200-day moving average price of $214.94. The firm has a market cap of $15.56 billion, a PE ratio of -424.28, a P/E/G ratio of 2.73 and a beta of 0.76. Aspen Technology, Inc. has a 1 year low of $162.99 and a 1 year high of $249.91.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million for 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%. The business’s quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. As a group, equities analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler raised their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Robert W. Baird raised their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Loop Capital upped their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Bank of America raised their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Aspen Technology presently has a consensus rating of “Hold” and an average price target of $253.00.

Insider Buying and Selling

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the transaction, the director now directly owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

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.