Aspen Technology (NASDAQ:AZPN) Research Coverage Started at StockNews.com

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

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

Aspen Technology Trading Up 0.9 %

Shares of AZPN stock opened at $250.85 on Friday. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $251.13. The company has a market cap of $15.87 billion, a P/E ratio of -432.50, a PEG ratio of 2.83 and a beta of 0.76. The firm has a fifty day moving average price of $238.78 and a 200 day moving average price of $217.60.

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

Insider Buying and Selling at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This represents a 10.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Aspen Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in AZPN. Tortoise Investment Management LLC grew its holdings in Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares during the period. Mather Group LLC. boosted its holdings in Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after acquiring an additional 130 shares during the period. Crewe Advisors LLC increased its stake in Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after buying an additional 119 shares during the period. Quent Capital LLC increased 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 grew its stake in Aspen Technology by 65.7% during the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

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.