Aspen Technology, Inc. (NASDAQ:AZPN) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 497,888 shares of the technology company’s stock after selling 393 shares during the quarter. Clearbridge Investments LLC’s holdings in Aspen Technology were worth $109,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZPN. Principal Securities Inc. acquired a new position in Aspen Technology in the 4th quarter valued at about $73,000. Fifth Third Bancorp grew its position in Aspen Technology by 94.4% in the 3rd quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock valued at $71,000 after acquiring an additional 170 shares in the last quarter. Signaturefd LLC grew its position in Aspen Technology by 152.3% in the 3rd quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock valued at $102,000 after acquiring an additional 300 shares in the last quarter. Eagle Bay Advisors LLC grew its position in Aspen Technology by 12.8% in the 4th quarter. Eagle Bay Advisors LLC now owns 902 shares of the technology company’s stock valued at $199,000 after acquiring an additional 102 shares in the last quarter. Finally, Austin Private Wealth LLC acquired a new position in Aspen Technology in the 4th quarter valued at about $202,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZPN. Piper Sandler dropped their target price on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. StockNews.com upgraded Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. William Blair upgraded Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $255.00 in a research note on Friday, May 17th. Finally, Robert W. Baird lifted their price objective on Aspen Technology from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $219.50.

Aspen Technology Stock Performance

AZPN stock opened at $221.28 on Wednesday. The business has a 50 day moving average price of $205.20 and a 200 day moving average price of $198.95. Aspen Technology, Inc. has a fifty-two week low of $161.32 and a fifty-two week high of $224.77.

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.