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

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

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

Aspen Technology Stock Up 0.2 %

Shares of NASDAQ AZPN opened at $251.52 on Friday. The stock’s 50 day moving average price is $249.77 and its two-hundred day moving average price is $230.13. Aspen Technology has a 52-week low of $171.25 and a 52-week high of $254.44. The stock has a market capitalization of $15.91 billion, a P/E ratio of -433.66, a PEG ratio of 2.84 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. During the same quarter last year, the business earned $0.96 earnings per share. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. On average, analysts anticipate that Aspen Technology will post 6.68 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AZPN. Quent Capital LLC boosted its holdings in Aspen Technology by 364.9% during the third quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after buying an additional 135 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Aspen Technology during the 3rd quarter valued at $48,000. GAMMA Investing LLC boosted its stake in shares of Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after acquiring an additional 58 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Aspen Technology by 71.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 386 shares of the technology company’s stock worth $77,000 after acquiring an additional 161 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Aspen Technology during the third quarter worth $77,000. 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.