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

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note released on Saturday. The brokerage issued a hold rating on the technology company’s stock.

Several other research analysts also recently commented on the company. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler raised their price target 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 $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America increased their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Loop Capital boosted their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Stock Down 0.7 %

Shares of NASDAQ AZPN opened at $248.34 on Friday. The firm has a market cap of $15.71 billion, a price-to-earnings ratio of -428.17, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. The company’s 50-day simple moving average is $240.69 and its 200-day simple moving average is $219.38. Aspen Technology has a 52-week low of $171.25 and a 52-week high of $254.04.

Aspen Technology (NASDAQ:AZPN) last posted 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 during the quarter, compared to analyst estimates of $265.04 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was down 13.4% on a year-over-year basis. Equities research analysts anticipate that Aspen Technology will post 6.68 EPS for the current fiscal year.

Institutional Trading of Aspen Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tortoise Investment Management LLC grew its position in Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after acquiring an additional 56 shares during the period. Mather Group LLC. increased its position in shares of Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after purchasing an additional 130 shares during the last quarter. Crewe Advisors LLC raised its holdings in 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 buying an additional 119 shares during the period. GAMMA Investing LLC raised its holdings in 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 buying an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Aspen Technology in the second quarter valued at about $37,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

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.