StockNews.com Begins Coverage on Aspen Technology (NASDAQ:AZPN)

Equities researchers at StockNews.com started coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report issued on Sunday. The firm set a “hold” rating on the technology company’s stock.

Several other equities analysts have also recently commented on the company. Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler lifted their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Loop Capital upped their price objective 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. Finally, Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Four equities research 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, the company presently has a consensus rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Trading Up 0.6 %

AZPN stock opened at $252.90 on Friday. The firm has a 50 day moving average of $242.28 and a 200-day moving average of $220.43. The firm has a market capitalization of $16.00 billion, a P/E ratio of -436.03, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.44.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly 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). The firm had revenue of $215.90 million during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.96 earnings per share. Sell-side analysts predict that Aspen Technology will post 6.68 EPS for the current year.

Hedge Funds Weigh In On Aspen Technology

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

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.