Aspen Technology (NASDAQ:AZPN) Reaches New 12-Month High – Still a Buy?

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) hit a new 52-week high during trading on Friday . The stock traded as high as $250.00 and last traded at $249.55, with a volume of 96472 shares traded. The stock had previously closed at $248.49.

Analyst Ratings Changes

AZPN has been the subject of a number of research reports. Piper Sandler increased their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. StockNews.com started coverage on Aspen Technology in a research note on Friday. They issued a “hold” rating on the stock. 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 report on Wednesday, September 18th. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Loop Capital upped their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Stock Performance

The business has a 50 day moving average of $238.78 and a 200-day moving average of $217.40. The company has a market capitalization of $15.87 billion, a P/E ratio of -432.50, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly 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 firm 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 period in the previous year, the company posted $0.96 earnings per share. As a group, equities analysts forecast that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Insider Activity

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the sale, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. This trade represents a 10.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Aspen Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tortoise Investment Management LLC raised its position in shares of Aspen Technology by 77.8% during the 2nd 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 in the last quarter. Mather Group LLC. increased its stake 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 acquiring an additional 130 shares during the last quarter. Crewe Advisors LLC raised its position in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC lifted its stake in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology in the 2nd quarter worth about $37,000. 45.66% of the stock is owned by hedge funds and other 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.