Aspen Technology (NASDAQ:AZPN) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note published on Monday. The brokerage issued a hold rating on the technology company’s stock.

A number of other research analysts also recently commented on the stock. Loop Capital raised their target price 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. Robert W. Baird boosted their price objective on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler boosted their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Bank of America raised their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Aspen Technology has an average rating of “Hold” and an average target price of $258.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $251.24 on Monday. The company has a market capitalization of $15.89 billion, a PE ratio of -433.17, a P/E/G ratio of 2.89 and a beta of 0.76. The company has a 50 day moving average price of $243.53 and a 200-day moving average price of $221.36. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $254.44.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results 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 during 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%. Aspen Technology’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, analysts forecast that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AZPN. Tortoise Investment Management LLC grew its holdings in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Crewe Advisors LLC lifted its position in Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after acquiring an additional 119 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Aspen Technology during the 2nd quarter valued at about $37,000. Quent Capital LLC increased its holdings in shares of Aspen Technology by 364.9% in the third 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 period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Aspen Technology in the third quarter worth about $48,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

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.