Azzad Asset Management Inc. ADV Cuts Stock Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Azzad Asset Management Inc. ADV decreased its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 26.3% in the 1st quarter, HoldingsChannel reports. The firm owned 5,648 shares of the technology company’s stock after selling 2,017 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Aspen Technology were worth $1,205,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Treasurer of the State of North Carolina boosted its stake in shares of Aspen Technology by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 12,254 shares of the technology company’s stock valued at $2,503,000 after buying an additional 60 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Aspen Technology by 3.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,864 shares of the technology company’s stock worth $410,000 after acquiring an additional 63 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Aspen Technology by 2.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,778 shares of the technology company’s stock valued at $567,000 after purchasing an additional 70 shares during the last quarter. Eagle Bay Advisors LLC raised its holdings in shares of 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 purchasing an additional 102 shares in the last quarter. Finally, Legacy Advisors LLC grew its stake in shares of Aspen Technology by 6.1% during the third quarter. Legacy Advisors LLC now owns 1,876 shares of the technology company’s stock worth $383,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Stock Performance

NASDAQ AZPN traded up $2.63 on Wednesday, reaching $197.67. The stock had a trading volume of 22,969 shares, compared to its average volume of 206,463. The stock has a market cap of $12.52 billion, a P/E ratio of -443.89, a price-to-earnings-growth ratio of 2.51 and a beta of 0.74. Aspen Technology, Inc. has a 12-month low of $162.26 and a 12-month high of $224.77. The business’s 50-day moving average price is $204.60 and its 200 day moving average price is $202.63.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.15 by $0.39. The firm had revenue of $278.11 million during the quarter, compared to the consensus estimate of $251.65 million. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. On average, sell-side analysts predict that Aspen Technology, Inc. will post 5.52 earnings per share for the current year.

Wall Street Analyst Weigh In

AZPN has been the subject of a number of recent analyst reports. William Blair raised Aspen Technology to a “hold” rating in a report on Tuesday, May 7th. Piper Sandler cut their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Robert W. Baird restated an “outperform” rating and issued a $230.00 target price on shares of Aspen Technology in a report on Friday, June 14th. Finally, Berenberg Bank upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $255.00 in a research note on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Aspen Technology presently has a consensus rating of “Hold” and a consensus price target of $219.50.

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.