Analysts Set Aspen Technology, Inc. (NASDAQ:AZPN) PT at $253.00

Aspen Technology, Inc. (NASDAQ:AZPN) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $253.00.

AZPN has been the topic of several research analyst reports. StockNews.com initiated coverage on Aspen Technology in a report on Saturday. They set a “hold” rating on the stock. Bank of America increased their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Robert W. Baird increased their price target on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Loop Capital increased their price target on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th.

Aspen Technology Trading Down 0.7 %

Shares of AZPN opened at $248.34 on Friday. The business’s fifty day simple moving average is $240.69 and its two-hundred day simple moving average is $219.38. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.04. The company has a market cap of $15.71 billion, a price-to-earnings ratio of -428.17, a P/E/G ratio of 2.85 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released 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 the consensus estimate of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. Aspen Technology’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. As a group, research analysts forecast that Aspen Technology will post 6.68 EPS for the current year.

Hedge Funds Weigh In On Aspen Technology

A number of institutional investors have recently bought and sold shares of AZPN. Tortoise Investment Management LLC raised its holdings in Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after purchasing an additional 56 shares during the period. Mather Group LLC. raised its holdings in Aspen Technology by 2,600.0% during 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 raised its holdings in Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after acquiring an additional 119 shares during the period. GAMMA Investing LLC raised its holdings in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Aspen Technology during the second quarter valued at about $37,000. 45.66% of the stock is owned by institutional investors.

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.