Aspen Technology, Inc. (NASDAQ:AZPN) Given Average Recommendation of “Moderate Buy” by Brokerages

Aspen Technology, Inc. (NASDAQ:AZPN) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $253.00.

Several brokerages have recently weighed in on AZPN. Robert W. Baird boosted their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America raised their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Piper Sandler upped their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, StockNews.com began coverage on Aspen Technology in a research note on Saturday. They set a “hold” rating for the company.

Institutional Trading of Aspen Technology

Institutional investors have recently added to or reduced their stakes in the stock. Commerce Bank boosted its position in shares of Aspen Technology by 3.1% during the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after buying an additional 47 shares during the period. US Bancorp DE boosted its holdings in Aspen Technology by 0.4% during the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after acquiring an additional 50 shares during the period. LRI Investments LLC grew its position in Aspen Technology by 6.7% in the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock valued at $171,000 after acquiring an additional 54 shares in the last quarter. State of Alaska Department of Revenue grew its position in Aspen Technology by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after acquiring an additional 55 shares in the last quarter. Finally, Tortoise Investment Management LLC increased 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 purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Price Performance

AZPN opened at $250.00 on Friday. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of -431.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. The company’s 50 day simple moving average is $240.40 and its two-hundred day simple moving average is $219.08. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $254.04.

Aspen Technology (NASDAQ:AZPN) last announced 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). The company had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. On average, equities analysts anticipate that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

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.