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

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

A number of other analysts have also weighed in on AZPN. Piper Sandler increased their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Loop Capital raised their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Berenberg Bank downgraded shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Robert W. Baird raised their price objective on Aspen Technology from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $258.00.

Aspen Technology Stock Up 0.3 %

AZPN stock traded up $0.68 during midday trading on Wednesday, hitting $249.63. The company's stock had a trading volume of 315,882 shares, compared to its average volume of 260,253. The stock has a market cap of $15.79 billion, a price-to-earnings ratio of -430.40, a PEG ratio of 2.89 and a beta of 0.76. The stock's 50-day moving average price is $247.05 and its 200 day moving average price is $225.33. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $254.44.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AZPN. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Aspen Technology by 1.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company's stock valued at $812,459,000 after buying an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company's stock worth $139,156,000 after purchasing an additional 28,820 shares during the period. Dimensional Fund Advisors LP boosted its position in Aspen Technology by 26.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company's stock worth $104,199,000 after purchasing an additional 109,783 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company's stock valued at $86,799,000 after purchasing an additional 171,351 shares in the last quarter. Finally, Raymond James & Associates raised its position in Aspen Technology by 5.9% during the third quarter. Raymond James & Associates now owns 281,961 shares of the technology company's stock worth $67,338,000 after acquiring an additional 15,744 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

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.