Wesbanco Bank Inc. acquired a new stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) during the 4th quarter. The financial institution has joined several other institutional investors who have either increased or decreased their stakes in the company. Other institutional investors holding AZPN shares include Vanguard Group Inc., BlackRock Inc., FMR LLC, State Street Corp, and Nordea Investment Management AB. Hedge funds and other institutional investors own 44.40% of the company’s shares. Analysts at KeyCorp, Robert W. Baird, Loop Capital, Piper Sandler, and StockNews.com issued reports on AZPN shares. Aspen Technology develops and supplies integrated software and services for process industries.
Wesbanco Bank Inc. buys 1,628 shares of Aspen Technology, Inc.
Wesbanco Bank Inc. has disclosed that it bought 1,628 shares of Aspen Technology, Inc. (NASDAQ:AZPN) in the 4th quarter. The financial institution has joined several other institutional investors who have either increased or decreased their stakes in the company.
Other Institutional Investors’ Holdings in Aspen Technology
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Vanguard Group Inc. currently owns 6,336,062 shares of AZPN, valued at $1,047,795,000, after adding 51,393 shares in the last quarter.
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BlackRock Inc. owns 3,281,955 shares of AZPN, worth $781,763,000, after acquiring an additional 457,024 shares in the 3rd quarter.
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FMR LLC owns 2,126,791 shares of AZPN, worth $390,648,000, after buying an additional 20,536 shares in the 2nd quarter.
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State Street Corp owns 1,812,165 shares of AZPN, worth $299,678,000, after acquiring an additional 36,999 shares in the 1st quarter.
- Nordea Investment Management AB owns 950,946 shares of AZPN, worth $224,128,000, after adding 47,961 shares in the last quarter.
Hedge funds and other institutional investors own 44.40% of the company’s shares.
AZPN’s Performance
Shares of AZPN opened at $206.84 on Tuesday. The company’s 50-day simple moving average is $207.47 and its 200-day simple moving average is $220.62. The company has a market capitalization of $13.40 billion, a P/E ratio of 195.13, a P/E/G ratio of 1.83, and a beta of 0.94. Aspen Technology, Inc. has a 1-year low of $148.93 and a 1-year high of $263.59.
Analyst Upgrades and Downgrades
Equities Analysts issue Reports on AZPN shares
Recently, several equities research analysts have released reports on AZPN shares. KeyCorp set an “overweight” rating on the stock and lowered its price target from $280.00 to $244.00. Robert W. Baird also lowered its price target on shares of Aspen Technology from $224.00 to $202.00 and set a “neutral” rating on the stock. Additionally, Loop Capital lowered its price target on shares of Aspen Technology from $255.00 to $230.00, while Piper Sandler lowered its target price from $240.00 to $195.00 and set a “neutral” rating on the stock. Finally, StockNews.com began covering shares of Aspen Technology and issued a “hold” rating on the stock.
Analyst Ratings and Target Prices
Out of the total eight equities research analysts, five have rated the stock as a hold, while the remaining three have assigned a buy rating to the company. As per the data available on MarketBeat, the company has an average rating of “Hold” and an average target price of $218.50.
About Aspen Technology
Aspen Technology is a company that develops and supplies integrated software and services for process industries. The company’s proprietary empirical models of chemical manufacturing processes help in plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.
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