Aspen Technology, Inc. (NASDAQ:AZPN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Aspen Technology, Inc. (NASDAQ:AZPN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $253.00.

A number of brokerages recently weighed in on AZPN. Bank of America increased their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. StockNews.com started coverage on Aspen Technology in a research report on Saturday. They set a "hold" rating on the stock. Loop Capital lifted their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Piper Sandler lifted their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Berenberg Bank downgraded Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th.

Institutional Trading of Aspen Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its holdings in Aspen Technology by 2.7% during the 3rd quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company's stock worth $6,912,000 after acquiring an additional 778 shares in the last quarter. Synovus Financial Corp grew its stake in Aspen Technology by 12.6% in the third 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 during the last quarter. Sanctuary Advisors LLC raised its holdings in Aspen Technology by 9.2% in the third quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company's stock worth $3,162,000 after purchasing an additional 1,065 shares in the last quarter. Anchor Investment Management LLC bought a new stake in shares of Aspen Technology in the 3rd quarter valued at about $77,000. Finally, SkyView Investment Advisors LLC boosted its holdings 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 buying an additional 77 shares in the last quarter. Institutional investors own 45.66% of the company's stock.

Aspen Technology Price Performance

Shares of AZPN stock remained flat at $250.00 during trading on Friday. The company had a trading volume of 133,411 shares, compared to its average volume of 237,248. The business has a fifty day moving average price of $240.40 and a two-hundred day moving average price of $219.15. The stock has a market capitalization of $15.81 billion, a PE ratio of -431.03, a PEG ratio of 2.85 and a beta of 0.76. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $254.04.

Aspen Technology (NASDAQ:AZPN - Get Free Report) 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). The company had revenue of $215.90 million during the quarter, compared to the consensus estimate 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 was down 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. Sell-side analysts anticipate that Aspen Technology will post 6.68 EPS for the current fiscal year.

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.