Aspen Technology (NASDAQ:AZPN) Rating Lowered to "Hold" at Berenberg Bank

Aspen Technology (NASDAQ:AZPN - Get Free Report) was downgraded by stock analysts at Berenberg Bank from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also issued reports on AZPN. Loop Capital boosted their target price on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Robert W. Baird boosted their target price on Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Piper Sandler boosted their target price on Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Four investment 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 has an average rating of "Hold" and an average price target of $253.00.

Aspen Technology Trading Down 0.4 %

Shares of AZPN stock traded down $0.97 during trading hours on Thursday, hitting $245.00. The stock had a trading volume of 883,949 shares, compared to its average volume of 302,040. Aspen Technology has a one year low of $162.26 and a one year high of $249.00. The stock's 50-day moving average price is $234.74 and its two-hundred day moving average price is $214.01.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its quarterly earnings results 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 company had revenue of $215.90 million during the quarter, compared to analysts' expectations of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The company's revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 EPS. Equities research analysts predict that Aspen Technology will post 6.53 EPS for the current fiscal year.

Insider Transactions at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now directly owns 8,540 shares of the company's stock, valued at approximately $1,871,114. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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

Large investors have recently made changes to their positions in the business. Tortoise Investment Management LLC grew its holdings in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock valued at $25,000 after buying an additional 56 shares during the last quarter. Mather Group LLC. boosted its holdings 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 during the last quarter. Crewe Advisors LLC boosted its stake 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 acquiring an additional 119 shares in the last quarter. GAMMA Investing LLC boosted 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 acquiring an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Aspen Technology during the 2nd quarter worth about $37,000. 45.66% of the stock is 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.