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

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

AZPN has been the topic of several other reports. Loop Capital increased their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. 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. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America increased their price objective 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 given a buy rating to the stock. According to data from MarketBeat, Aspen Technology currently has an average rating of “Hold” and an average price target of $253.00.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $251.95 on Friday. The company has a 50-day moving average of $242.64 and a 200 day moving average of $220.65. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of -434.40, a PEG ratio of 2.87 and a beta of 0.76. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $254.44.

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

Institutional Trading of Aspen Technology

A number of institutional investors have recently made changes to their positions in AZPN. Cetera Advisors LLC bought a new stake in Aspen Technology during the 1st quarter worth approximately $262,000. GAMMA Investing LLC raised its stake in Aspen Technology by 65.7% during the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the period. Mather Group LLC. raised its stake in Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after acquiring an additional 130 shares during the period. SG Americas Securities LLC bought a new stake in Aspen Technology during the 2nd quarter worth approximately $824,000. Finally, LVW Advisors LLC raised its stake in Aspen Technology by 6.7% during the 2nd quarter. LVW Advisors LLC now owns 3,386 shares of the technology company’s stock worth $673,000 after acquiring an additional 214 shares during the period. 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.