Aspen Technology, Inc. (NASDAQ:AZPN) Given Consensus Rating of “Moderate Buy” by Analysts

Aspen Technology, Inc. (NASDAQ:AZPN) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $253.00.

A number of equities analysts have weighed in on AZPN shares. Robert W. Baird boosted their price target on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Loop Capital boosted their price target on 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 boosted their price objective on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Bank of America boosted their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th.

Insider Transactions at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the completion of the transaction, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Aspen Technology

A number of institutional investors have recently modified their holdings of AZPN. Commerce Bank lifted its holdings in Aspen Technology by 3.1% in the third quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after buying an additional 47 shares during the period. US Bancorp DE lifted its holdings in Aspen Technology by 0.4% in the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after buying an additional 50 shares during the period. LRI Investments LLC lifted its holdings in Aspen Technology by 6.7% in the second quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock worth $171,000 after buying an additional 54 shares during the period. State of Alaska Department of Revenue lifted its holdings in Aspen Technology by 1.8% in the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock worth $736,000 after buying an additional 55 shares during the period. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Aspen Technology by 77.8% during the second 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 during the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Technology Stock Performance

NASDAQ:AZPN opened at $248.68 on Tuesday. The stock’s 50-day simple moving average is $234.74 and its 200 day simple moving average is $214.24. The company has a market cap of $15.73 billion, a P/E ratio of -428.76, a P/E/G ratio of 2.73 and a beta of 0.76. Aspen Technology has a 52-week low of $162.99 and a 52-week high of $249.91.

Aspen Technology (NASDAQ:AZPN) last released its earnings results 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). The company had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. Aspen Technology’s revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. As a group, equities analysts predict that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

About Aspen Technology

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.