Aspen Technology (NASDAQ:AZPN) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report issued on Sunday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other research firms also recently weighed in on AZPN. Loop Capital raised their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler lifted their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America lifted their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Aspen Technology presently has a consensus rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Stock Up 0.6 %

AZPN stock opened at $251.43 on Friday. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.04. The firm has a market cap of $15.90 billion, a P/E ratio of -433.50, a P/E/G ratio of 2.86 and a beta of 0.76. The company’s 50-day moving average price is $242.00 and its two-hundred day moving average price is $220.20.

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

Institutional Trading of Aspen Technology

Several hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Aspen Technology by 1.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after acquiring an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Aspen Technology by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock worth $139,156,000 after buying an additional 28,820 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Aspen Technology by 38.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after buying an additional 153,897 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Aspen Technology by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after buying an additional 109,783 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in Aspen Technology by 3.8% during the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after buying an additional 12,500 shares during the last quarter. Institutional investors 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.