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

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

A number of other brokerages also recently issued reports on AZPN. Loop Capital boosted their price target on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Piper Sandler increased their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their target price on Aspen Technology from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Bank of America upped their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $258.00.

Aspen Technology Trading Up 1.0 %

Aspen Technology stock traded up $2.44 during midday trading on Monday, reaching $251.24. The stock had a trading volume of 333,060 shares, compared to its average volume of 251,300. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.44. The company has a market capitalization of $15.89 billion, a P/E ratio of -433.17, a PEG ratio of 2.89 and a beta of 0.76. The company has a fifty day moving average price of $243.53 and a two-hundred day moving average price of $221.36.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. The business's revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. On average, equities research analysts predict that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

A number of institutional investors have recently modified their holdings of the business. Tortoise Investment Management LLC boosted its stake in Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock worth $25,000 after buying an additional 56 shares during the period. Crewe Advisors LLC raised its stake in shares of 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 last quarter. Quent Capital LLC lifted its stake in shares of Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company's stock worth $41,000 after acquiring an additional 135 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Aspen Technology during the second quarter worth about $37,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Aspen Technology in the 3rd quarter valued at approximately $48,000. 45.66% of the stock is currently 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.