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

Equities researchers at StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPN) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the technology company’s stock.

AZPN has been the topic of several other research reports. Loop Capital lifted their price target on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird lifted their target price on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Bank of America increased their target price 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. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Piper Sandler increased their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $258.00.

Aspen Technology Stock Performance

Shares of NASDAQ AZPN opened at $249.56 on Tuesday. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $254.44. The stock’s fifty day moving average is $245.16 and its 200 day moving average is $223.08. The stock has a market capitalization of $15.78 billion, a P/E ratio of -430.28, a PEG ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The firm had revenue of $215.90 million for 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 business’s revenue was down 13.4% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Equities research analysts forecast that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZPN. Kayne Anderson Rudnick Investment Management LLC boosted its position in Aspen Technology by 1.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after buying an additional 65,143 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Aspen Technology by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after acquiring an additional 28,820 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Aspen Technology by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after acquiring an additional 109,783 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Aspen Technology by 3.8% during the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after purchasing an additional 12,500 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Aspen Technology by 5.9% in the third quarter. Raymond James & Associates now owns 281,961 shares of the technology company’s stock worth $67,338,000 after purchasing an additional 15,744 shares during the last quarter. 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.