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

Research analysts at StockNews.com started coverage on shares of Aspen Technology (NASDAQ:AZPNGet Free Report) in a report issued on Saturday. The firm set a “hold” rating on the technology company’s stock.

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

Get Our Latest Research Report on AZPN

Aspen Technology Stock Performance

AZPN stock opened at $250.00 on Friday. The stock has a 50-day moving average price of $240.40 and a two-hundred day moving average price of $219.14. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $254.04. The stock has a market cap of $15.81 billion, a PE ratio of -431.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPNGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm had revenue of $215.90 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. On average, analysts forecast that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Tortoise Investment Management LLC increased its position 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 buying an additional 56 shares during the last quarter. Mather Group LLC. increased its holdings in shares of 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 last quarter. Crewe Advisors LLC raised its stake in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after acquiring an additional 119 shares during the period. Quent Capital LLC lifted 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 valued at $41,000 after purchasing an additional 135 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the period. 45.66% of the stock is owned by institutional investors.

About Aspen Technology

(Get Free Report)

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.

Read More

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

Receive News & Ratings for Aspen Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology and related companies with MarketBeat.com's FREE daily email newsletter.