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

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report sent to investors on Sunday morning. The brokerage issued a hold rating on the technology company’s stock.

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

Aspen Technology Trading Up 0.6 %

AZPN opened at $251.43 on Friday. The stock has a fifty day moving average price of $242.00 and a 200 day moving average price of $220.19. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $254.04. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of -433.50, a PEG ratio of 2.86 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results 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). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds have recently modified their holdings of the business. Cetera Advisors LLC acquired a new position in Aspen Technology during the 1st quarter valued at $262,000. 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 valued at $35,000 after buying an additional 69 shares during the period. Mather Group LLC. grew its position in Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after buying an additional 130 shares in the last quarter. SG Americas Securities LLC bought a new position in Aspen Technology during the second quarter valued at about $824,000. Finally, LVW Advisors LLC increased its stake in Aspen Technology by 6.7% during the second quarter. LVW Advisors LLC now owns 3,386 shares of the technology company’s stock valued at $673,000 after acquiring an additional 214 shares during the period. 45.66% of the stock is 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.