Aspen Technology, Inc. (NASDAQ:AZPN) Short Interest Update

Aspen Technology, Inc. (NASDAQ:AZPN) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 1,210,000 shares, a drop of 9.7% from the July 15th total of 1,340,000 shares. Based on an average daily trading volume, of 210,900 shares, the days-to-cover ratio is currently 5.7 days. Currently, 4.5% of the shares of the stock are sold short.

Institutional Trading of Aspen Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZPN. Tortoise Investment Management LLC lifted its stake in shares of Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. Mather Group LLC. lifted its stake in shares of Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC lifted its stake in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Aspen Technology in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird raised their price target on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. William Blair upgraded Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Piper Sandler dropped their price objective on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $255.00 in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.50.

Aspen Technology Trading Down 0.9 %

AZPN traded down $1.94 during midday trading on Friday, hitting $210.97. The company’s stock had a trading volume of 116,681 shares, compared to its average volume of 207,729. The firm has a market cap of $13.36 billion, a P/E ratio of -479.48, a PEG ratio of 2.26 and a beta of 0.73. The firm has a 50-day moving average price of $196.37 and a two-hundred day moving average price of $199.71. Aspen Technology has a 52-week low of $162.26 and a 52-week high of $224.06.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $1.88 by $0.49. The company had revenue of $342.91 million during the quarter, compared to analysts’ expectations of $319.10 million. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.87 EPS. On average, equities analysts expect that Aspen Technology will post 5.52 EPS for the current year.

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.