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

Equities research analysts at StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report issued on Tuesday. The firm set a “hold” rating on the technology company’s stock.

Several other analysts also recently commented on the stock. Piper Sandler raised their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Loop Capital upped their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Bank of America raised 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 downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Stock Up 0.5 %

Shares of AZPN stock opened at $250.80 on Tuesday. The firm has a market cap of $15.86 billion, a price-to-earnings ratio of -432.41, a PEG ratio of 2.89 and a beta of 0.76. The stock has a 50-day moving average price of $245.44 and a 200 day moving average price of $223.42. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.44.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company 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 company posted $0.96 EPS. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. Sell-side analysts predict that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Trading of Aspen Technology

Large investors have recently made changes to their positions in the company. Tortoise Investment Management LLC raised its stake in Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after acquiring an additional 56 shares in the last quarter. Crewe Advisors LLC grew its stake in shares of Aspen Technology by 313.2% in 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 during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Aspen Technology in the second quarter valued at about $37,000. Quent Capital LLC raised its holdings in Aspen Technology by 364.9% during 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 during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Aspen Technology during the third quarter worth $48,000. Institutional investors and hedge funds 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.