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

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

AZPN has been the topic of a number of other research reports. Berenberg Bank cut shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. Piper Sandler raised 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. Bank of America raised their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Robert W. Baird lifted their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Finally, Loop Capital lifted their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Aspen Technology currently has a consensus rating of "Hold" and a consensus price target of $253.00.

Aspen Technology Stock Up 0.9 %

NASDAQ:AZPN traded up $2.36 during midday trading on Friday, hitting $250.85. The company had a trading volume of 502,767 shares, compared to its average volume of 234,255. The company has a market capitalization of $15.87 billion, a PE ratio of -427.74, a P/E/G ratio of 2.82 and a beta of 0.76. The stock's fifty day moving average price is $238.27 and its 200-day moving average price is $217.03. Aspen Technology has a 52-week low of $171.25 and a 52-week high of $251.13.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The business's revenue was down 13.4% on a year-over-year basis. During the same period last year, the company posted $0.96 earnings per share. As a group, research analysts forecast that Aspen Technology will post 6.68 earnings per share for the current year.

Insider Activity

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the transaction, the director now directly owns 8,540 shares in the company, valued at approximately $1,871,114. This represents a 10.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Aspen Technology

A number of large investors have recently added to or reduced their stakes in AZPN. Tortoise Investment Management LLC increased its position 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 purchasing an additional 56 shares during the last quarter. Mather Group LLC. grew its holdings in shares of 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 grew its holdings in shares of Aspen Technology by 313.2% in the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company's stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company's stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Aspen Technology in the second quarter valued at approximately $37,000. 45.66% of the stock is currently owned by institutional investors and hedge funds.

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.