Envestnet Portfolio Solutions Inc. Has $1.22 Million Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Envestnet Portfolio Solutions Inc. cut its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,875 shares of the technology company’s stock after selling 1,149 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Aspen Technology were worth $1,217,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Victory Capital Management Inc. lifted its position in Aspen Technology by 10.4% during the 3rd quarter. Victory Capital Management Inc. now owns 10,652 shares of the technology company’s stock worth $2,544,000 after buying an additional 1,000 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Aspen Technology during the third quarter valued at approximately $1,100,000. Commerce Bank grew its stake in Aspen Technology by 3.1% in the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after purchasing an additional 47 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Aspen Technology by 13.4% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 2,085 shares of the technology company’s stock worth $498,000 after purchasing an additional 247 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Aspen Technology by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock worth $40,082,000 after purchasing an additional 10,327 shares during the last quarter. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Aspen Technology stock opened at $264.33 on Friday. The company’s 50-day moving average price is $262.36 and its two-hundred day moving average price is $249.17. The stock has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology, Inc. has a twelve month low of $171.25 and a twelve month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. Equities analysts anticipate that Aspen Technology, Inc. will post 6.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Aspen Technology Company 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.