Aspen Technology (NASDAQ:AZPN) Earns “Neutral” Rating from Robert W. Baird

Robert W. Baird reiterated their neutral rating on shares of Aspen Technology (NASDAQ:AZPN) in a report published on Monday morning,Benzinga reports. They currently have a $265.00 price objective on the technology company’s stock, down from their previous price objective of $275.00.

Other analysts also recently issued research reports about the company. StockNews.com started coverage on Aspen Technology in a research note on Saturday, January 25th. They set a “hold” rating on the stock. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Piper Sandler upped their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $261.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $263.79 on Monday. The business’s 50-day simple moving average is $251.65 and its two-hundred day simple moving average is $233.48. The company has a market cap of $16.68 billion, a PE ratio of -454.81, a PEG ratio of 2.94 and a beta of 0.76. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $264.43.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm 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 firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. As a group, analysts predict that Aspen Technology will post 6.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

A number of large investors have recently bought and sold shares of the business. Commerce Bank raised its holdings in Aspen Technology by 3.1% in the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares during the period. Heritage Family Offices LLP raised its holdings in Aspen Technology by 2.8% in the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after purchasing an additional 47 shares during the period. US Bancorp DE raised its holdings in Aspen Technology by 0.4% in the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after purchasing an additional 50 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Aspen Technology by 1.8% during the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after acquiring an additional 55 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Aspen Technology by 30.1% during 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. Institutional investors and hedge funds 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.