Synovus Financial Corp decreased its holdings in shares of Aspen Technology, Inc. (NASDAQ:AZPN – Free Report) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,527 shares of the technology company’s stock after selling 939 shares during the quarter. Synovus Financial Corp’s holdings in Aspen Technology were worth $2,638,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of AZPN. Compass Wealth Management LLC bought a new position in shares of Aspen Technology during the fourth quarter valued at approximately $29,000. CENTRAL TRUST Co grew its stake in Aspen Technology by 104.2% during the 1st quarter. CENTRAL TRUST Co now owns 245 shares of the technology company’s stock worth $56,000 after buying an additional 125 shares during the last quarter. Seeyond acquired a new stake in Aspen Technology in the fourth quarter worth $96,000. Brown Brothers Harriman & Co. lifted its stake in Aspen Technology by 1,434.4% in the first quarter. Brown Brothers Harriman & Co. now owns 491 shares of the technology company’s stock valued at $81,000 after buying an additional 459 shares during the last quarter. Finally, WealthPlan Investment Management LLC acquired a new position in shares of Aspen Technology during the first quarter valued at $129,000. Institutional investors own 43.94% of the company’s stock.
Wall Street Analysts Forecast Growth
AZPN has been the topic of several recent research reports. KeyCorp reiterated a “sector weight” rating on shares of Aspen Technology in a research report on Wednesday, July 26th. StockNews.com began coverage on Aspen Technology in a research report on Thursday, August 17th. They set a “hold” rating for the company. Piper Sandler raised their target price on Aspen Technology from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Loop Capital increased their price target on Aspen Technology from $170.00 to $180.00 in a research note on Wednesday, August 2nd. Finally, Robert W. Baird lifted their price objective on shares of Aspen Technology from $184.00 to $194.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $198.80.
Insider Activity at Aspen Technology
In other Aspen Technology news, Director Jr. Robert M. Whelan sold 3,114 shares of Aspen Technology stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $164.56, for a total value of $512,439.84. Following the transaction, the director now owns 5,840 shares in the company, valued at $961,030.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.
Aspen Technology Trading Up 0.6 %
Shares of AZPN stock opened at $193.12 on Monday. The business’s fifty day moving average is $178.64 and its 200-day moving average is $191.54. Aspen Technology, Inc. has a 1 year low of $161.32 and a 1 year high of $263.59.
Aspen Technology (NASDAQ:AZPN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.07). Aspen Technology had a negative net margin of 10.32% and a positive return on equity of 2.32%. The business had revenue of $320.64 million during the quarter, compared to analyst estimates of $324.78 million. As a group, sell-side analysts expect that Aspen Technology, Inc. will post 5.41 earnings per share for the current fiscal year.
Aspen Technology Profile
Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company’s solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.