Truist Financial Corp Sells 928 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Truist Financial Corp trimmed its position in Aspen Technology, Inc. (NASDAQ:AZPN) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,627 shares of the technology company’s stock after selling 928 shares during the period. Truist Financial Corp’s holdings in Aspen Technology were worth $6,963,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AZPN. Wellington Management Group LLP lifted its stake in shares of Aspen Technology by 116.1% in the 3rd quarter. Wellington Management Group LLP now owns 567,200 shares of the technology company’s stock valued at $115,856,000 after acquiring an additional 304,712 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Aspen Technology in the 4th quarter valued at $31,309,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake 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 valued at $760,247,000 after acquiring an additional 124,934 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of 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 valued at $215,920,000 after acquiring an additional 119,102 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake 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 valued at $27,470,000 after acquiring an additional 31,565 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Stock Up 0.4 %

NASDAQ AZPN opened at $202.10 on Friday. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of -149.70, a PEG ratio of 1.98 and a beta of 0.76. Aspen Technology, Inc. has a twelve month low of $161.32 and a twelve month high of $224.77. The stock has a fifty day simple moving average of $202.15 and a 200 day simple moving average of $196.31.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share 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 business had revenue of $257.16 million for the quarter, compared to analyst estimates of $259.70 million. Research analysts expect that Aspen Technology, Inc. will post 5.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AZPN has been the subject of a number of recent research reports. Piper Sandler restated a “neutral” rating and issued a $196.00 price objective on shares of Aspen Technology in a report on Wednesday, February 7th. StockNews.com upgraded 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. According to MarketBeat.com, Aspen Technology has a consensus rating of “Hold” and a consensus price target of $203.67.

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.