Wesbanco Bank Inc. Reduces Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Wesbanco Bank Inc. trimmed its holdings in Aspen Technology, Inc. (NASDAQ:AZPN) by 10.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,384 shares of the technology company’s stock after selling 164 shares during the period. Wesbanco Bank Inc.’s holdings in Aspen Technology were worth $345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commerce Bank increased 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 worth $370,000 after purchasing an additional 47 shares during the period. Heritage Family Offices LLP increased its stake in Aspen Technology by 2.8% in the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after buying an additional 47 shares during the period. US Bancorp DE lifted its holdings in Aspen Technology by 0.4% during the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after buying an additional 50 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Aspen Technology by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after buying an additional 55 shares during the period. Finally, GAMMA Investing LLC grew its stake in Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after acquiring an additional 58 shares in the last quarter. 45.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler increased their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, StockNews.com initiated coverage on shares of Aspen Technology in a research report on Saturday. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Stock Down 0.2 %

NASDAQ AZPN opened at $255.16 on Friday. The firm has a market cap of $16.14 billion, a PE ratio of -439.93, a price-to-earnings-growth ratio of 2.94 and a beta of 0.76. Aspen Technology, Inc. has a 52 week low of $171.25 and a 52 week high of $259.85. The company has a 50 day moving average price of $250.59 and a 200 day moving average price of $231.65.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The business had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter in the prior year, the company posted $0.96 EPS. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, equities research analysts anticipate that Aspen Technology, Inc. will post 6.68 earnings per share for the current fiscal year.

About Aspen Technology

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.