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

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

Other equities research analysts also recently issued reports about the stock. Robert W. Baird lifted their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Loop Capital boosted 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. Piper Sandler raised their price objective on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Bank of America increased 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. Finally, Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $248.34 on Friday. The business has a fifty day moving average price of $240.69 and a 200 day moving average price of $219.38. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $254.04. The stock has a market capitalization of $15.71 billion, a P/E ratio of -428.17, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The business had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter in the prior year, the company posted $0.96 EPS. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. As a group, equities research analysts anticipate that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in Aspen Technology by 2.7% during the third quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company’s stock worth $6,912,000 after buying an additional 778 shares in the last quarter. Synovus Financial Corp raised its position in shares of Aspen Technology by 12.6% in the third quarter. Synovus Financial Corp now owns 12,487 shares of the technology company’s stock worth $2,982,000 after acquiring an additional 1,396 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Aspen Technology by 9.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company’s stock worth $3,162,000 after acquiring an additional 1,065 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in shares of Aspen Technology during the 3rd quarter valued at about $77,000. Finally, SkyView Investment Advisors LLC increased its stake in shares of Aspen Technology by 2.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,188 shares of the technology company’s stock valued at $761,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

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.