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

Aspen Technology, Inc. (NASDAQ:AZPN) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 1,600,000 shares, a growth of 32.2% from the January 31st total of 1,210,000 shares. Approximately 6.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 579,700 shares, the days-to-cover ratio is presently 2.8 days.

Aspen Technology Trading Down 0.1 %

AZPN stock traded down $0.36 during midday trading on Tuesday, hitting $264.65. The company had a trading volume of 238,491 shares, compared to its average volume of 624,293. The stock’s 50 day moving average price is $258.49 and its 200 day moving average price is $245.01. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $277.37. The stock has a market cap of $16.75 billion, a price-to-earnings ratio of 3,308.48, a PEG ratio of 3.00 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Analysts predict that Aspen Technology will post 6.7 earnings per share for the current year.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZPN. Franklin Resources Inc. boosted its stake in Aspen Technology by 2,272.7% during the fourth quarter. Franklin Resources Inc. now owns 690,940 shares of the technology company’s stock valued at $172,479,000 after buying an additional 661,820 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Aspen Technology by 37,990.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after purchasing an additional 632,545 shares during the last quarter. Deutsche Bank AG boosted its position in Aspen Technology by 351.6% in the 4th quarter. Deutsche Bank AG now owns 509,410 shares of the technology company’s stock valued at $127,164,000 after buying an additional 396,607 shares during the period. Norges Bank purchased a new position in Aspen Technology during the 4th quarter worth $70,813,000. Finally, Raymond James Financial Inc. bought a new stake in Aspen Technology during the 4th quarter valued at $66,680,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AZPN. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird reissued a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a research note on Wednesday, February 26th. They issued a “hold” rating on the stock. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Piper Sandler boosted their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $272.00.

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.