Aspen Technology (NASDAQ:AZPN) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report released on Monday. The firm set a “hold” rating on the technology company’s stock.

AZPN has been the subject of a number of other research reports. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler boosted their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Loop Capital raised their price target 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 $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Bank of America upped their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $258.00.

Aspen Technology Price Performance

Shares of AZPN opened at $248.80 on Monday. The business’s 50 day simple moving average is $243.53 and its 200-day simple moving average is $221.36. Aspen Technology has a one year low of $171.25 and a one year high of $254.44. The company has a market capitalization of $15.74 billion, a P/E ratio of -428.97, a PEG ratio of 2.89 and a beta of 0.76.

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 analysts’ consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. During the same quarter last year, the business posted $0.96 earnings per share. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Aspen Technology will post 6.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

Institutional investors have recently modified their holdings of the stock. Tortoise Investment Management LLC boosted its stake in Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after acquiring an additional 56 shares during the last quarter. Crewe Advisors LLC boosted its position 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 worth $31,000 after purchasing an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Aspen Technology in the 2nd quarter valued at $37,000. Quent Capital LLC increased its position in shares of Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after buying an additional 135 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Aspen Technology during the 3rd quarter worth $48,000. 45.66% of the stock is currently 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.