Wesbanco Bank Inc. Sells 164 Shares of Aspen Technology, Inc. (NASDAQ:AZPN)

Wesbanco Bank Inc. decreased its stake in Aspen Technology, Inc. (NASDAQ:AZPN) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,384 shares of the technology company’s stock after selling 164 shares during the quarter. Wesbanco Bank Inc.’s holdings in Aspen Technology were worth $345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in Aspen Technology by 37,990.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after buying an additional 632,545 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after acquiring an additional 171,351 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Aspen Technology during the third quarter worth about $290,880,000. American Capital Management Inc. raised its stake in Aspen Technology by 116.9% during the 3rd quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock valued at $46,635,000 after purchasing an additional 105,254 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Aspen Technology in the 3rd quarter worth approximately $19,928,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Down 0.2 %

Shares of NASDAQ:AZPN opened at $255.16 on Friday. The firm has a fifty day simple moving average of $250.59 and a two-hundred day simple moving average of $231.65. The stock has a market capitalization of $16.14 billion, a P/E ratio of -439.93, a PEG 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.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. On average, analysts expect that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZPN has been the topic of several recent analyst reports. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. 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 report on Wednesday, December 11th. Piper Sandler increased their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, StockNews.com began coverage on Aspen Technology in a report on Saturday. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $258.00.

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.