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

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

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

Aspen Technology Trading Up 0.5 %

NASDAQ AZPN opened at $250.80 on Tuesday. The company has a 50-day moving average price of $245.16 and a two-hundred day moving average price of $223.08. The stock has a market cap of $15.86 billion, a price-to-earnings ratio of -432.41, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $254.44.

Aspen Technology (NASDAQ:AZPN) last announced its 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). The business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm’s revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. As a group, equities research analysts expect that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

Hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. grew its stake in Aspen Technology by 31.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after buying an additional 39,396 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in shares of Aspen Technology in the second quarter valued at approximately $3,042,000. Citigroup Inc. increased its position in Aspen Technology by 15.9% in the 3rd quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock valued at $5,550,000 after acquiring an additional 3,186 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Aspen Technology by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock valued at $40,082,000 after buying an additional 10,327 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after purchasing an additional 28,820 shares during the period. 45.66% of the stock is owned by institutional investors and hedge funds.

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.