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

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

Several other analysts have also recently commented on AZPN. Bank of America boosted their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Robert W. Baird increased their price target on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital upped their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Stock Up 1.0 %

NASDAQ AZPN opened at $251.24 on Monday. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $254.44. The business has a 50-day moving average price of $243.53 and a 200-day moving average price of $221.36. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of -433.17, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $265.04 million. During the same quarter in the previous year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. Research analysts expect that Aspen Technology will post 6.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

Several institutional investors have recently made changes to their positions in the company. Tortoise Investment Management LLC grew its holdings in Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. Crewe Advisors LLC grew its stake in shares of Aspen Technology by 313.2% during 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 last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Aspen Technology in the second quarter worth approximately $37,000. Quent Capital LLC lifted its stake in shares of Aspen Technology by 364.9% during the 3rd 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, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Aspen Technology during the 3rd quarter valued at $48,000. 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.