StockNews.com Initiates Coverage on Aspen Technology (NASDAQ:AZPN)

Stock analysts at StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report issued on Tuesday. The firm set a “hold” rating on the technology company’s stock.

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

Aspen Technology Trading Up 0.5 %

Aspen Technology stock opened at $250.80 on Tuesday. The stock has a 50-day moving average price of $245.44 and a 200 day moving average price of $223.42. The stock has a market cap of $15.86 billion, a PE ratio of -432.41, a P/E/G ratio of 2.89 and a beta of 0.76. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $254.44.

Aspen Technology (NASDAQ:AZPN) last issued 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). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. During the same period in the previous year, the business posted $0.96 earnings per share. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. On average, equities analysts predict that Aspen Technology will post 6.68 EPS for the current year.

Institutional Investors Weigh In On Aspen Technology

Several institutional investors have recently bought and sold shares of the stock. Tortoise Investment Management LLC boosted 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 purchasing an additional 56 shares in the last quarter. Crewe Advisors LLC grew its holdings 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 valued at $31,000 after acquiring an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Aspen Technology in the 2nd quarter worth about $37,000. Quent Capital LLC raised its position in Aspen Technology by 364.9% during the third quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after acquiring an additional 135 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Aspen Technology in the 3rd quarter valued at $48,000. 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.