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

Aspen Technology, Inc. (NASDAQ:AZPN) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,320,000 shares, a decrease of 9.0% from the September 30th total of 1,450,000 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average trading volume of 201,200 shares, the short-interest ratio is presently 6.6 days.

Aspen Technology Stock Up 0.1 %

Shares of AZPN stock opened at $240.25 on Wednesday. Aspen Technology has a 12-month low of $162.26 and a 12-month high of $241.35. The firm has a market capitalization of $15.21 billion, a price-to-earnings ratio of -546.02, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The firm has a fifty day moving average of $231.56 and a 200-day moving average of $211.87.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data 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 business had revenue of $342.91 million for the quarter, compared to analysts’ expectations of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.87 EPS. Research analysts expect that Aspen Technology will post 6.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on AZPN shares. Piper Sandler increased their target price on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Bank of America raised their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Robert W. Baird raised their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Loop Capital raised their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Aspen Technology currently has an average rating of “Moderate Buy” and an average target price of $248.40.

Insider Activity

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the sale, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Aspen Technology

Institutional investors have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund bought a new stake in Aspen Technology in the 1st quarter valued at $1,487,000. DekaBank Deutsche Girozentrale lifted its position in Aspen Technology by 1,034.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock valued at $7,895,000 after acquiring an additional 35,056 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new stake in Aspen Technology in the 2nd quarter valued at $3,042,000. TimesSquare Capital Management LLC lifted its position in Aspen Technology by 8.1% during the 1st quarter. TimesSquare Capital Management LLC now owns 208,585 shares of the technology company’s stock worth $44,487,000 after buying an additional 15,685 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Aspen Technology by 52.9% during the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after buying an additional 101,586 shares in the last quarter. 45.66% of the stock is owned by 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.