Aspen Technology, Inc. (NASDAQ:AZPN) Given Average Rating of “Moderate Buy” by Brokerages

Aspen Technology, Inc. (NASDAQ:AZPN) has received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $258.00.

AZPN has been the topic of a number of analyst reports. StockNews.com initiated coverage on Aspen Technology in a research note on Tuesday. They set a “hold” rating on the stock. Robert W. Baird increased their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Bank of America boosted their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Piper Sandler upped their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in Aspen Technology by 2.7% in the 3rd quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company’s stock worth $6,912,000 after acquiring an additional 778 shares during the period. Synovus Financial Corp lifted its position in shares of Aspen Technology by 12.6% during the third quarter. Synovus Financial Corp now owns 12,487 shares of the technology company’s stock worth $2,982,000 after purchasing an additional 1,396 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Aspen Technology by 9.2% in the third quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company’s stock valued at $3,162,000 after purchasing an additional 1,065 shares during the period. Anchor Investment Management LLC purchased a new position in shares of Aspen Technology in the third quarter valued at $77,000. Finally, SkyView Investment Advisors LLC grew its holdings in Aspen Technology by 2.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,188 shares of the technology company’s stock valued at $761,000 after purchasing an additional 77 shares in the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Stock Up 0.5 %

Aspen Technology stock opened at $250.80 on Wednesday. The firm’s 50-day simple moving average is $245.16 and its 200 day simple moving average is $223.08. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $254.44. The firm has a market capitalization of $15.86 billion, a PE ratio of -432.41, a P/E/G ratio of 2.89 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 business had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. During the same period last year, the company earned $0.96 EPS. The firm’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, research analysts expect that Aspen Technology will post 6.68 EPS for the current fiscal year.

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.