Aspen Technology (NASDAQ:AZPN) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report published on Thursday. The firm issued a hold rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on AZPN. Bank of America boosted their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Loop Capital raised their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Piper Sandler boosted their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Stock Performance

AZPN opened at $246.88 on Thursday. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $249.91. The company has a market capitalization of $15.62 billion, a P/E ratio of -425.66, a P/E/G ratio of 2.81 and a beta of 0.76. The stock has a fifty day moving average of $236.61 and a 200-day moving average of $215.83.

Aspen Technology (NASDAQ:AZPN) last released its quarterly 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). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. During the same period in the prior year, the business posted $0.96 earnings per share. Aspen Technology’s revenue was down 13.4% compared to the same quarter last year. On average, equities research analysts predict that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the sale, the director now owns 8,540 shares of the company’s stock, valued at $1,871,114. This trade represents a 10.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Aspen Technology

Large investors have recently bought and sold shares of the company. Tortoise Investment Management LLC grew its stake in shares of Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after purchasing an additional 56 shares during the last quarter. Mather Group LLC. grew its position in shares of Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after buying an additional 130 shares during the last quarter. Crewe Advisors LLC increased its stake in shares of Aspen Technology by 313.2% in the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after buying an additional 119 shares during the period. Quent Capital LLC raised its position in shares of Aspen Technology by 364.9% during the third quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after acquiring an additional 135 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the period. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Company Profile

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.