Aspen Technology (NASDAQ:AZPN) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report released on Wednesday morning. The firm issued a hold rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America upped their price target on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. 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 research note on Tuesday, November 5th. Loop Capital increased their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird raised their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $250.94 on Wednesday. The business’s fifty day moving average is $247.64 and its 200-day moving average is $225.88. The stock has a market cap of $15.87 billion, a PE ratio of -432.66, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $254.44.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly 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 firm had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm’s revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 EPS. Equities research analysts predict that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Trading of Aspen Technology

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake 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 valued at $63,000 after acquiring an additional 58 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after purchasing an additional 171,351 shares during the period. Franklin Resources Inc. boosted its position in shares of Aspen Technology by 2.7% in the 3rd quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company’s stock worth $6,912,000 after purchasing an additional 778 shares during the last quarter. Synovus Financial Corp boosted its holdings in Aspen Technology by 12.6% during the third quarter. Synovus Financial Corp now owns 12,487 shares of the technology company’s stock worth $2,982,000 after buying an additional 1,396 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Aspen Technology by 9.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company’s stock worth $3,162,000 after acquiring an additional 1,065 shares during the last quarter. 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.