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

Research analysts at StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN - Get Free Report) in a research note issued to investors on Tuesday. The firm set a "hold" rating on the technology company's stock.

A number of other equities analysts also recently commented on AZPN. Piper Sandler lifted their price objective 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 lowered Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. Robert W. Baird upped their price objective on shares of Aspen Technology from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Bank of America raised their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Finally, Loop Capital boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $258.00.

Aspen Technology Trading Up 0.5 %

AZPN traded up $1.24 on Tuesday, hitting $250.80. 320,684 shares of the company's stock were exchanged, compared to its average volume of 260,053. The firm has a 50-day moving average price of $245.16 and a 200-day moving average price of $223.08. The stock has a market cap of $15.86 billion, a price-to-earnings ratio of -432.41, a P/E/G ratio of 2.89 and a beta of 0.76. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $254.44.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.54). The business 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 business's revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. On average, equities analysts predict that Aspen Technology will post 6.68 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AZPN. Commerce Bank raised its stake in shares of Aspen Technology by 3.1% in the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company's stock valued at $370,000 after acquiring an additional 47 shares during the period. US Bancorp DE raised its holdings in shares of Aspen Technology by 0.4% in the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company's stock valued at $3,271,000 after buying an additional 50 shares during the period. State of Alaska Department of Revenue lifted its stake in Aspen Technology by 1.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company's stock worth $736,000 after acquiring an additional 55 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in Aspen Technology by 77.8% during the 2nd 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 period. Finally, Kolinsky Wealth Management LLC grew its position in Aspen Technology by 4.7% in the 3rd quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company's stock valued at $317,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company's stock.

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.