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

Research analysts at StockNews.com started coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note issued to investors on Friday. The firm set a “hold” rating on the technology company’s stock.

Other analysts have also issued reports about the stock. Bank of America boosted their target price 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 lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Loop Capital lifted their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Robert W. Baird lifted their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Piper Sandler lifted their price objective on Aspen Technology from $217.00 to $240.00 and gave the company 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Hold” and an average target price of $253.00.

Aspen Technology Price Performance

Aspen Technology stock opened at $248.09 on Friday. The stock has a market cap of $15.69 billion, a P/E ratio of -427.74, a PEG ratio of 2.82 and a beta of 0.76. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $249.91. The firm’s 50 day moving average price is $237.81 and its 200-day moving average price is $216.81.

Aspen Technology (NASDAQ:AZPN) last announced 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 prior year, the firm posted $0.96 EPS. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. As a group, equities analysts expect that Aspen Technology will post 6.68 EPS for the current year.

Insider Activity

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 stock was sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now owns 8,540 shares in the company, valued at $1,871,114. This represents a 10.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Aspen Technology

Large investors have recently bought and sold shares of the company. Tortoise Investment Management LLC boosted its position in Aspen Technology by 77.8% in the second 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 last quarter. Mather Group LLC. boosted its position 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 purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC boosted its position in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. Quent Capital LLC boosted its position in Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after purchasing an additional 135 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $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.

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.