Aspen Technology (NASDAQ:AZPN) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note published on Friday morning. The firm issued a hold rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. Robert W. Baird increased their price objective on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America raised their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Piper Sandler upped their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Loop Capital raised their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Stock Up 0.9 %

Aspen Technology stock opened at $250.85 on Friday. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $251.13. The stock has a market cap of $15.87 billion, a P/E ratio of -432.50, a P/E/G ratio of 2.82 and a beta of 0.76. The company’s fifty day simple moving average is $238.27 and its 200-day simple moving average is $217.03.

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

Insiders Place Their Bets

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s 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 transaction, the director now directly owns 8,540 shares in the company, valued at $1,871,114. The trade was a 10.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Aspen Technology

Several institutional investors have recently modified their holdings of AZPN. UniSuper Management Pty Ltd lifted its position in Aspen Technology by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 400 shares of the technology company’s stock worth $85,000 after purchasing an additional 200 shares during the period. LRI Investments LLC acquired a new stake in shares of Aspen Technology during the 1st quarter valued at about $168,000. Paloma Partners Management Co acquired a new stake in shares of Aspen Technology during the 1st quarter valued at about $219,000. Bayesian Capital Management LP bought a new stake in Aspen Technology in the first quarter valued at about $357,000. Finally, Janus Henderson Group PLC lifted its stake in Aspen Technology by 2.2% during the first quarter. Janus Henderson Group PLC now owns 231,525 shares of the technology company’s stock worth $49,380,000 after purchasing an additional 4,955 shares during the period. 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.