Aspen Technology (NASDAQ:AZPN) Earns Hold Rating from Analysts at StockNews.com

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

A number of other analysts also recently commented on AZPN. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital boosted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. 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 report on Tuesday, November 5th. Finally, Robert W. Baird upped 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $258.00.

Aspen Technology Price Performance

Aspen Technology stock opened at $251.52 on Friday. The stock’s 50 day moving average price is $249.77 and its 200 day moving average price is $230.13. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $254.44. The company has a market cap of $15.91 billion, a PE ratio of -433.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). The company had revenue of $215.90 million for 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%. Aspen Technology’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. On average, equities research analysts anticipate that Aspen Technology will post 6.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

A number of large investors have recently modified their holdings of AZPN. Quent Capital LLC boosted its position in Aspen Technology by 364.9% during the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after purchasing an additional 135 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Aspen Technology during the third quarter worth about $48,000. GAMMA Investing LLC boosted its position in shares of Aspen Technology by 30.1% in the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after buying an additional 58 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Aspen Technology by 71.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 386 shares of the technology company’s stock valued at $77,000 after buying an additional 161 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Aspen Technology during the 3rd quarter valued at about $77,000. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

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.