Aspen Technology (NASDAQ:AZPN) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note issued on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

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

Aspen Technology Stock Performance

NASDAQ AZPN opened at $249.95 on Wednesday. Aspen Technology has a one year low of $171.25 and a one year high of $254.44. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of -430.95, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. The company’s 50-day simple moving average is $247.36 and its two-hundred day simple moving average is $225.50.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data 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 the consensus estimate 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 quarterly revenue was down 13.4% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. Equities analysts expect that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

Several hedge funds have recently made changes to their positions in AZPN. JPMorgan Chase & Co. grew its stake in Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after purchasing an additional 171,351 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Aspen Technology by 2.7% during the third quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company’s stock worth $6,912,000 after purchasing an additional 778 shares during the period. Synovus Financial Corp boosted its position in Aspen Technology by 12.6% in the third quarter. Synovus Financial Corp now owns 12,487 shares of the technology company’s stock valued at $2,982,000 after buying an additional 1,396 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Aspen Technology by 9.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company’s stock worth $3,162,000 after buying an additional 1,065 shares during the period. Finally, Anchor Investment Management LLC purchased a new position in Aspen Technology during the 3rd quarter worth approximately $77,000. 45.66% of the stock is owned by institutional investors and hedge funds.

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.