Corebridge Financial Inc. Sells 1,358 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Corebridge Financial Inc. trimmed its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 30,061 shares of the technology company’s stock after selling 1,358 shares during the quarter. Corebridge Financial Inc.’s holdings in Aspen Technology were worth $7,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bailard Inc. boosted its holdings in shares of Aspen Technology by 0.9% during the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock worth $1,134,000 after buying an additional 41 shares during the period. Net Worth Advisory Group boosted its holdings in shares of Aspen Technology by 1.0% during the fourth quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after acquiring an additional 41 shares during the period. Heritage Family Offices LLP boosted its holdings in shares of Aspen Technology by 2.8% during the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after acquiring an additional 47 shares during the period. GAMMA Investing LLC grew its position in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares during the last quarter. Finally, Kolinsky Wealth Management LLC increased its stake in shares of Aspen Technology by 4.7% during the third quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock worth $317,000 after purchasing an additional 60 shares during the period. 45.66% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $264.33 on Friday. Aspen Technology, Inc. has a 12-month low of $171.25 and a 12-month high of $277.37. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. The firm’s 50-day moving average price is $263.75 and its two-hundred day moving average price is $250.32.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. On average, sell-side analysts expect that Aspen Technology, Inc. will post 6.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on AZPN shares. Piper Sandler upped their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Saturday, March 22nd. They issued a “hold” rating on the stock. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Robert W. Baird restated a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $272.00.

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.