Jennison Associates LLC lessened its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 72.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,764 shares of the technology company’s stock after selling 17,411 shares during the quarter. Jennison Associates LLC’s holdings in Aspen Technology were worth $448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Manhattan Co. purchased a new stake in Aspen Technology in the 3rd quarter worth $125,000. Legato Capital Management LLC purchased a new stake in Aspen Technology in the 4th quarter worth $203,000. Advisor Group Inc. increased its holdings in Aspen Technology by 69.9% in the 2nd quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock worth $173,000 after acquiring an additional 1,296 shares in the last quarter. Parametrica Management Ltd acquired a new stake in Aspen Technology during the 3rd quarter worth $203,000. Finally, Moneta Group Investment Advisors LLC acquired a new stake in Aspen Technology during the 3rd quarter worth $226,000.

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) opened at $74.73 on Tuesday. Aspen Technology, Inc. has a one year low of $53.51 and a one year high of $84.40. The stock has a market cap of $5,448.65, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 22.62 and a beta of 1.30.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.09. The firm had revenue of $124.90 million for the quarter, compared to analysts’ expectations of $121.81 million. Aspen Technology had a net margin of 33.23% and a negative return on equity of 61.97%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. research analysts predict that Aspen Technology, Inc. will post 1.97 earnings per share for the current year.

Several equities research analysts have issued reports on AZPN shares. Zacks Investment Research cut shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Aspen Technology to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 3rd. BidaskClub raised shares of Aspen Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Bank of America started coverage on shares of Aspen Technology in a research note on Monday, November 6th. They set a “neutral” rating and a $67.00 target price on the stock. Finally, Canaccord Genuity lifted their target price on shares of Aspen Technology from $65.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Aspen Technology has a consensus rating of “Hold” and a consensus target price of $72.67.

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About Aspen Technology

Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.

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Institutional Ownership by Quarter for Aspen Technology (NASDAQ:AZPN)

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