Aspen Technology (NASDAQ:AZPN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report issued on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

Several other brokerages have also commented on AZPN. Piper Sandler increased their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Robert W. Baird raised their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Bank of America lifted their price objective 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. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Loop Capital lifted their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Four 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 presently has an average rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Trading Up 0.3 %

NASDAQ AZPN opened at $249.63 on Wednesday. The firm’s fifty day simple moving average is $246.70 and its two-hundred day simple moving average is $225.16. The firm has a market capitalization of $15.79 billion, a P/E ratio of -430.40, a P/E/G ratio of 2.89 and a beta of 0.76. Aspen Technology has a 12-month low of $171.25 and a 12-month 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). 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 for the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter last year, the firm earned $0.96 earnings per share. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AZPN. Commerce Bank raised its position in Aspen Technology by 3.1% during the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after acquiring an additional 47 shares in the last quarter. US Bancorp DE grew its stake in shares of Aspen Technology by 0.4% during the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after purchasing an additional 50 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Aspen Technology by 1.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after purchasing an additional 55 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Aspen Technology by 77.8% in 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 period. Finally, Kolinsky Wealth Management LLC boosted its holdings in Aspen Technology by 4.7% during the third quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock worth $317,000 after buying an additional 60 shares in the last quarter. Hedge funds and other 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.