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

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

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

Aspen Technology Stock Performance

Shares of AZPN opened at $251.52 on Friday. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $254.44. The company has a market capitalization of $15.91 billion, a PE ratio of -433.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.76. The stock has a fifty day moving average of $249.77 and a two-hundred day moving average of $229.68.

Aspen Technology (NASDAQ:AZPN) last released its earnings results 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 during the quarter, compared to analyst estimates of $265.04 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, equities research analysts forecast that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

A number of hedge funds have recently made changes to their positions in the business. Quent Capital LLC boosted its position in Aspen Technology by 364.9% during the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after purchasing an additional 135 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Aspen Technology during the third quarter worth about $48,000. GAMMA Investing LLC lifted its stake in shares of Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after purchasing an additional 58 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Aspen Technology by 71.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 386 shares of the technology company’s stock worth $77,000 after buying an additional 161 shares during the period. Finally, Anchor Investment Management LLC acquired a new stake in shares of Aspen Technology in the third quarter valued at about $77,000. Hedge funds and other institutional investors 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.