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

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have received an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $253.00.

AZPN has been the topic of a number of analyst reports. Loop Capital raised their price objective 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. Bank of America lifted 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. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. StockNews.com started coverage on Aspen Technology in a research report on Saturday. They set a “hold” rating on the stock. Finally, Robert W. Baird upped their price target on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $250.00 on Friday. The stock has a market cap of $15.81 billion, a PE ratio of -431.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. The firm has a fifty day moving average price of $240.40 and a 200 day moving average price of $219.08. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $254.04.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million for 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 business’s quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 EPS. As a group, equities analysts expect that Aspen Technology will post 6.68 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AZPN. Tortoise Investment Management LLC increased its stake in Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after buying an additional 56 shares in the last quarter. Mather Group LLC. boosted its stake 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 worth $29,000 after acquiring an additional 130 shares during the last quarter. Crewe Advisors LLC increased its position in shares of Aspen Technology by 313.2% during the second 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 raised its stake 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 last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Aspen Technology in the 2nd quarter valued at $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.