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

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

Several other research firms have also recently commented on AZPN. Bank of America lifted their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Loop Capital lifted their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Robert W. Baird increased their price objective on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $258.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $251.05 on Thursday. 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 $15.88 billion, a price-to-earnings ratio of -432.84, a PEG ratio of 2.89 and a beta of 0.76. The stock has a fifty day moving average of $248.36 and a two-hundred day moving average of $227.29.

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

Hedge Funds Weigh In On Aspen Technology

Several hedge funds and other institutional investors have recently modified their holdings of AZPN. Commerce Bank lifted its position in Aspen Technology by 3.1% during the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after buying an additional 47 shares in the last quarter. US Bancorp DE boosted its position in Aspen Technology by 0.4% during the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after purchasing an additional 50 shares during the period. State of Alaska Department of Revenue raised its position in Aspen Technology by 1.8% in the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC boosted its position in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after buying an additional 58 shares during the period. Finally, Kolinsky Wealth Management LLC grew its stake in shares of Aspen Technology by 4.7% in the third quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock valued at $317,000 after buying an additional 60 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

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.