Aspen Technology (NASDAQ:AZPN) Lowered to Hold Rating by Baird R W

Baird R W downgraded shares of Aspen Technology (NASDAQ:AZPNFree Report) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. StockNews.com began coverage on Aspen Technology in a report on Saturday, January 25th. They set a “hold” rating for the company. Piper Sandler increased their price objective on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research report on Monday. Finally, Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Aspen Technology has an average rating of “Hold” and a consensus target price of $261.00.

Get Our Latest Stock Analysis on AZPN

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $263.79 on Monday. The stock has a fifty day moving average price of $251.65 and a 200 day moving average price of $233.48. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $264.43. The company has a market cap of $16.68 billion, a PE ratio of -454.81, a P/E/G ratio of 2.94 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPNGet Free Report) last issued 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 company had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same period in the prior year, the business earned $0.96 earnings per share. Aspen Technology’s revenue for the quarter was down 13.4% compared to the same quarter last year. Analysts anticipate that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quent Capital LLC increased its position in shares of Aspen Technology by 364.9% in the third 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. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Aspen Technology in the third quarter valued at $48,000. GAMMA Investing LLC increased its position in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after buying an additional 58 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Aspen Technology by 126.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock valued at $68,000 after buying an additional 151 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Aspen Technology by 7,575.0% in the fourth quarter. Blue Trust Inc. now owns 307 shares of the technology company’s stock valued at $73,000 after buying an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

About Aspen Technology

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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.

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