Aspen Technology (NASDAQ:AZPN) Coverage Initiated at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the technology company’s stock.

Several other brokerages have also weighed in on AZPN. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Loop Capital boosted their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Piper Sandler upped their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird boosted their target price on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $258.00.

Aspen Technology Price Performance

Shares of AZPN stock opened at $249.25 on Monday. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $254.44. The stock’s 50 day simple moving average is $243.79 and its two-hundred day simple moving average is $221.65. The company has a market cap of $15.77 billion, a PE ratio of -431.33, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). The business 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 quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. Equities research analysts expect that Aspen Technology will post 6.68 EPS for the current year.

Institutional Trading of Aspen Technology

A number of hedge funds have recently bought and sold shares of AZPN. SG Americas Securities LLC acquired a new position in shares of Aspen Technology in the 2nd quarter valued at $824,000. Assenagon Asset Management S.A. increased its stake in Aspen Technology by 4.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company’s stock worth $305,000 after buying an additional 60 shares during the period. Raymond James & Associates increased its stake in Aspen Technology by 3.5% during the 2nd quarter. Raymond James & Associates now owns 266,217 shares of the technology company’s stock worth $52,879,000 after buying an additional 9,051 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Aspen Technology in the 2nd quarter worth about $90,000. Finally, &PARTNERS bought a new stake in shares of Aspen Technology in the 2nd quarter worth about $722,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

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.