Aspen Technology (NASDAQ:AZPN) Sets New 52-Week High – Here’s Why

Aspen Technology, Inc. (NASDAQ:AZPN) hit a new 52-week high on Monday . The company traded as high as $249.91 and last traded at $249.53, with a volume of 380397 shares traded. The stock had previously closed at $245.00.

Wall Street Analyst Weigh In

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

Aspen Technology Price Performance

The business has a fifty day moving average price of $235.80 and a two-hundred day moving average price of $215.15. The firm has a market capitalization of $15.56 billion, a price-to-earnings ratio of -424.22, a price-to-earnings-growth ratio of 2.81 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. On average, research analysts predict that Aspen Technology, Inc. will post 6.68 earnings per share for the current year.

Insider Buying and Selling

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 sale, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Aspen Technology

Several institutional investors have recently bought and sold shares of the business. Townsquare Capital LLC grew its holdings in Aspen Technology by 0.4% in the third quarter. Townsquare Capital LLC now owns 28,565 shares of the technology company’s stock valued at $6,822,000 after purchasing an additional 110 shares during the period. FMR LLC grew its holdings in Aspen Technology by 51.2% in the third quarter. FMR LLC now owns 4,369 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 1,480 shares during the period. Dai ichi Life Insurance Company Ltd acquired a new stake in Aspen Technology in the third quarter valued at approximately $539,000. Mirabella Financial Services LLP grew its holdings in Aspen Technology by 78.8% in the third quarter. Mirabella Financial Services LLP now owns 13,410 shares of the technology company’s stock valued at $3,140,000 after purchasing an additional 5,908 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Aspen Technology by 31.0% in the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after acquiring an additional 39,396 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

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.