Aspen Technology, Inc. (NASDAQ:AZPN) Short Interest Update

Aspen Technology, Inc. (NASDAQ:AZPN - Get Free Report) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,320,000 shares, a decline of 9.0% from the September 30th total of 1,450,000 shares. Currently, 5.0% of the company's shares are short sold. Based on an average daily trading volume, of 201,200 shares, the short-interest ratio is presently 6.6 days.

Analyst Ratings Changes

Several brokerages have recently commented on AZPN. Bank of America upped their price target on Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Loop Capital upped their price target on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Robert W. Baird boosted their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. Finally, Piper Sandler boosted their price objective on Aspen Technology from $200.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Aspen Technology has an average rating of "Moderate Buy" and an average price target of $248.40.

Insiders Place Their Bets

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 value of $219,100.00. Following the transaction, the director now owns 8,540 shares of the company's stock, valued at $1,871,114. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aspen Technology

Several large investors have recently bought and sold shares of the stock. Austin Private Wealth LLC purchased a new stake in Aspen Technology during the 3rd quarter worth about $219,000. Asset Management One Co. Ltd. increased its holdings in Aspen Technology by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 10,614 shares of the technology company's stock worth $2,535,000 after purchasing an additional 1,017 shares during the period. Forum Financial Management LP purchased a new stake in Aspen Technology during the 3rd quarter worth about $208,000. Van ECK Associates Corp increased its holdings in shares of Aspen Technology by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 698 shares of the technology company's stock valued at $162,000 after acquiring an additional 155 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Aspen Technology by 0.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 32,465 shares of the technology company's stock valued at $7,754,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company's stock.

Aspen Technology Price Performance

Shares of AZPN stock traded up $0.58 on Wednesday, hitting $240.83. The stock had a trading volume of 137,112 shares, compared to its average volume of 202,341. The firm has a market capitalization of $15.25 billion, a P/E ratio of -546.02, a P/E/G ratio of 2.75 and a beta of 0.76. Aspen Technology has a 1 year low of $162.26 and a 1 year high of $244.85. The company's 50 day moving average price is $231.56 and its 200-day moving average price is $211.87.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The company had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. During the same quarter in the prior year, the business earned $1.87 EPS. Aspen Technology's revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Aspen Technology will post 6.53 EPS for the current year.

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.