StockNews.com Initiates Coverage on Aspen Technology (NASDAQ:AZPN)

StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the technology company’s stock.

Other analysts also recently issued research reports about the company. Bank of America upped their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler raised their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Loop Capital raised their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird lifted their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $253.00.

Aspen Technology Stock Down 0.1 %

Shares of AZPN stock opened at $246.88 on Thursday. The business’s fifty day moving average is $236.61 and its 200 day moving average is $215.83. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of -425.66, a PEG ratio of 2.81 and a beta of 0.76. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $249.91.

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. Equities research analysts expect that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the completion of the sale, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. The trade was a 10.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Aspen Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in Aspen Technology by 38.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after acquiring an additional 153,897 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Aspen Technology during the 3rd quarter valued at about $290,880,000. Dimensional Fund Advisors LP lifted its stake in shares of Aspen Technology by 26.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after purchasing an additional 109,783 shares during the period. American Capital Management Inc. boosted its holdings in shares of Aspen Technology by 116.9% in the third quarter. American Capital Management Inc. now owns 195,271 shares of the technology company’s stock worth $46,635,000 after buying an additional 105,254 shares during the last quarter. Finally, Clean Energy Transition LLP bought a new stake in Aspen Technology during the first quarter valued at approximately $22,110,000. 45.66% of the stock is owned by institutional investors.

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.