Aspen Technology (NASDAQ:AZPN) Coverage Initiated by Analysts at StockNews.com

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

Other analysts also recently issued research reports about the company. Piper Sandler upped their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Bank of America increased their target price on Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Loop Capital increased their target price on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Berenberg Bank downgraded Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, Robert W. Baird increased their target price on Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Aspen Technology presently has a consensus rating of "Hold" and an average target price of $253.00.

Aspen Technology Price Performance

Shares of Aspen Technology stock remained flat at $250.00 on Friday. The stock had a trading volume of 133,411 shares, compared to its average volume of 237,248. The business has a fifty day simple moving average of $240.40 and a two-hundred day simple moving average of $219.15. The stock has a market cap of $15.81 billion, a price-to-earnings ratio of -431.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.04.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (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 analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm's revenue for the quarter was down 13.4% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. As a group, research analysts anticipate that Aspen Technology will post 6.68 EPS for the current year.

Institutional Trading of Aspen Technology

A number of hedge funds and other institutional investors have recently modified their holdings of AZPN. Tortoise Investment Management LLC increased its position in shares of Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock valued at $25,000 after acquiring an additional 56 shares during the last quarter. Mather Group LLC. grew its holdings in Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company's stock worth $29,000 after purchasing an additional 130 shares during the period. Crewe Advisors LLC grew its holdings in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company's stock worth $31,000 after purchasing an additional 119 shares during the period. GAMMA Investing LLC grew its holdings in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company's stock worth $35,000 after purchasing an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Aspen Technology during the second quarter worth about $37,000. Institutional investors and hedge funds 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.