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

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report released on Sunday morning. The brokerage issued a hold rating on the technology company’s stock.

A number of other research analysts also recently issued reports on AZPN. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, Robert W. Baird reissued a “neutral” rating and set a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $261.00.

Aspen Technology Stock Down 0.4 %

Shares of Aspen Technology stock opened at $263.55 on Friday. Aspen Technology has a 52-week low of $171.25 and a 52-week high of $265.05. The company has a 50 day moving average of $252.23 and a 200 day moving average of $234.64. The company has a market capitalization of $16.67 billion, a P/E ratio of -454.40, a P/E/G ratio of 3.01 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s revenue was down 13.4% compared to the same quarter last year. As a group, research analysts anticipate that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

Institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC increased its stake in Aspen Technology by 4.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,415 shares of the technology company’s stock valued at $353,000 after buying an additional 65 shares during the period. CIBC Asset Management Inc increased its stake in Aspen Technology by 9.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,219 shares of the technology company’s stock valued at $554,000 after buying an additional 187 shares during the period. Strategic Financial Concepts LLC acquired a new position in Aspen Technology in the 4th quarter valued at $2,991,000. Blue Trust Inc. increased its stake in Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after buying an additional 228 shares during the period. Finally, Stephens Inc. AR increased its stake in Aspen Technology by 2.4% in the 4th quarter. Stephens Inc. AR now owns 3,210 shares of the technology company’s stock valued at $801,000 after buying an additional 75 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.