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

Research analysts at StockNews.com started coverage on shares of Aspen Technology (NASDAQ:AZPN - Get Free Report) in a research report issued on Sunday. The brokerage set a "hold" rating on the technology company's stock.

Other equities analysts have also recently issued reports about the stock. Piper Sandler lifted their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Bank of America lifted their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Loop Capital increased their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Finally, Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. 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, the company currently has an average rating of "Hold" and a consensus price target of $253.00.

Aspen Technology Price Performance

Shares of AZPN stock traded up $1.50 on Friday, reaching $251.43. 558,993 shares of the stock were exchanged, compared to its average volume of 510,064. Aspen Technology has a one year low of $171.25 and a one year high of $254.04. The stock has a market cap of $15.90 billion, a PE ratio of -433.50, a P/E/G ratio of 2.86 and a beta of 0.76. The stock has a 50 day moving average price of $242.00 and a 200 day moving average price of $220.19.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm had revenue of $215.90 million for 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 business's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. On average, research analysts expect that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Trading of Aspen Technology

A number of institutional investors have recently modified their holdings of the company. Tortoise Investment Management LLC boosted its stake in shares of Aspen Technology by 77.8% during the 2nd 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 last quarter. Mather Group LLC. grew its stake in Aspen Technology by 2,600.0% in the second quarter. Mather Group LLC. now owns 135 shares of the technology company's stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC increased its position in shares of Aspen Technology by 313.2% during the 2nd 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. GAMMA Investing LLC raised its stake in shares of Aspen Technology by 65.7% during the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company's stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Aspen Technology in the 2nd quarter valued at approximately $37,000. 45.66% of the stock is currently owned by institutional investors.

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.