Aspen Technology (NASDAQ:AZPN) Now Covered by StockNews.com

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

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

Aspen Technology Stock Down 0.1 %

Aspen Technology stock opened at $246.88 on Thursday. The stock has a market cap of $15.62 billion, a P/E ratio of -425.66, a P/E/G ratio of 2.81 and a beta of 0.76. The company’s 50 day moving average price is $236.61 and its two-hundred day moving average price is $215.83. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $249.91.

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

Insider Activity

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now directly owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This trade represents a 10.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and 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 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. Mather Group LLC. grew its stake in shares of Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after buying an additional 130 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of Aspen Technology by 313.2% in the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after buying an additional 119 shares during the period. GAMMA Investing LLC lifted its stake in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Aspen Technology during the 2nd quarter valued at about $37,000. 45.66% of the stock is currently 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.