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

Investment analysts at StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN - Get Free Report) in a research report issued to clients and investors on Thursday. The brokerage set a "hold" rating on the technology company's stock.

Several other research firms also recently commented on AZPN. Robert W. Baird increased their price objective on Aspen Technology from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Piper Sandler upped their price target on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Loop Capital upped their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, Bank of America boosted their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $258.00.

Aspen Technology Stock Down 0.8 %

Aspen Technology stock traded down $2.03 during midday trading on Thursday, hitting $251.05. 295,968 shares of the stock were exchanged, compared to its average volume of 355,074. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $254.44. The stock has a market capitalization of $15.88 billion, a PE ratio of -432.84, a P/E/G ratio of 2.89 and a beta of 0.76. The company has a fifty day simple moving average of $248.36 and a two-hundred day simple moving average of $227.29.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last posted its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.39 by ($0.54). The business 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%. Aspen Technology's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. As a group, equities research analysts anticipate that Aspen Technology will post 6.68 EPS for the current fiscal year.

Institutional Trading of Aspen Technology

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company's stock worth $63,000 after acquiring an additional 58 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company's stock valued at $86,799,000 after buying an additional 171,351 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Aspen Technology by 2.7% in the 3rd quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company's stock worth $6,912,000 after acquiring an additional 778 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Aspen Technology by 12.6% in the third quarter. Synovus Financial Corp now owns 12,487 shares of the technology company's stock worth $2,982,000 after buying an additional 1,396 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in shares of Aspen Technology by 9.2% during the third quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company's stock valued at $3,162,000 after purchasing an additional 1,065 shares during the period. 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.