Aspen Technology (NASDAQ:AZPN) Coverage Initiated by Analysts at StockNews.com

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

A number of other brokerages have also commented on AZPN. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler raised their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. 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 report on Wednesday, September 18th. Robert W. Baird raised their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Loop Capital upped their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat.com, Aspen Technology has a consensus rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Price Performance

Shares of NASDAQ:AZPN traded down $0.04 during mid-day trading on Thursday, reaching $247.00. 149,554 shares of the company’s stock were exchanged, compared to its average volume of 226,569. The business’s fifty day moving average price is $235.80 and its 200-day moving average price is $215.15. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $249.91.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 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 company had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same period last year, the business earned $0.96 EPS. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. Sell-side analysts predict that Aspen Technology will post 6.68 earnings per share for the current year.

Insider Buying and Selling

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 transaction, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. This represents a 10.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aspen Technology

Several large investors have recently modified their holdings of AZPN. Tortoise Investment Management LLC raised its holdings in Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after acquiring an additional 56 shares during the period. Mather Group LLC. boosted its position in shares of Aspen Technology by 2,600.0% in the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Crewe Advisors LLC lifted its stake in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC boosted 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 purchasing an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

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.