Aspen Technology (NASDAQ:AZPN) Downgraded by Baird R W to “Hold”

Aspen Technology (NASDAQ:AZPN) was downgraded by investment analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Piper Sandler raised their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday. Robert W. Baird restated a “neutral” rating and issued a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday. StockNews.com initiated coverage on Aspen Technology in a research note on Saturday. They issued a “hold” rating on the stock. Finally, Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Aspen Technology presently has an average rating of “Hold” and a consensus target price of $261.00.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $264.00 on Monday. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $264.43. The stock has a market cap of $16.70 billion, a P/E ratio of -455.17, a price-to-earnings-growth ratio of 2.94 and a beta of 0.76. The stock has a 50 day simple moving average of $251.28 and a two-hundred day simple moving average of $233.27.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. Sell-side analysts predict that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quent Capital LLC increased its holdings in shares of 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. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Aspen Technology during the 3rd quarter valued at about $48,000. GAMMA Investing LLC increased its stake in Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Aspen Technology by 126.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock worth $68,000 after buying an additional 151 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Aspen Technology by 7,575.0% in the fourth quarter. Blue Trust Inc. now owns 307 shares of the technology company’s stock worth $73,000 after buying an additional 303 shares in the last quarter. Hedge funds and other institutional investors 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.