Aspen Technology (NASDAQ:AZPN) Now Covered by Analysts at Piper Sandler

Equities researchers at Piper Sandler initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report issued on Thursday, The Fly reports. The firm set a “neutral” rating on the technology company’s stock.

Several other research analysts have also commented on the company. Robert W. Baird lifted their target price on Aspen Technology from $145.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered Aspen Technology from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $156.00 to $144.00 in a research report on Thursday, August 12th. Benchmark lowered Aspen Technology from a “buy” rating to a “hold” rating in a research report on Thursday, August 12th. William Blair reiterated a “buy” rating on shares of Aspen Technology in a research report on Thursday, August 12th. Finally, Bank of America upgraded Aspen Technology from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $176.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $160.00.

AZPN stock traded up $2.00 during midday trading on Thursday, hitting $168.00. 15,707 shares of the company’s stock were exchanged, compared to its average volume of 537,282. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.34. Aspen Technology has a 12-month low of $108.15 and a 12-month high of $168.21. The firm has a 50 day moving average price of $131.59 and a 200-day moving average price of $138.89. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 3.84 and a beta of 1.24.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, August 10th. The technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.06. The company had revenue of $197.96 million for the quarter, compared to the consensus estimate of $206.15 million. Aspen Technology had a return on equity of 48.61% and a net margin of 45.08%. On average, sell-side analysts forecast that Aspen Technology will post 4.49 EPS for the current fiscal year.

In other news, VP F G. Hammond sold 3,188 shares of the business’s stock in a transaction on Thursday, July 22nd. The stock was sold at an average price of $145.04, for a total value of $462,387.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Aspen Technology in the 2nd quarter valued at approximately $72,000. FORA Capital LLC acquired a new position in Aspen Technology in the 1st quarter valued at approximately $25,000. Ensign Peak Advisors Inc acquired a new position in Aspen Technology in the 1st quarter valued at approximately $30,000. O Shaughnessy Asset Management LLC raised its holdings in Aspen Technology by 123.2% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 221 shares of the technology company’s stock valued at $30,000 after acquiring an additional 122 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Aspen Technology in the 1st quarter valued at approximately $58,000.

About Aspen Technology

Aspen Technology, Inc engages in the provision of asset optimization solutions. It develops its applications to design, and optimize processes across the engineering, manufacturing, supply chain, and asset performance management areas. The firm operates through the Subscription and Software, and Services and Other segments.

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