Aspen Technology (NASDAQ:AZPN) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN) in a note issued to investors on Monday. The firm set a “hold” rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Robert W. Baird lifted their price target on shares of Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital lifted their price objective on 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 raised their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler upped their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Aspen Technology has an average rating of “Hold” and a consensus target price of $258.00.

Aspen Technology Trading Down 0.9 %

Aspen Technology stock opened at $248.80 on Monday. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $254.44. The firm’s fifty day simple moving average is $243.53 and its 200-day simple moving average is $221.36. The company has a market capitalization of $15.74 billion, a P/E ratio of -428.97, a P/E/G ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last posted its 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 company 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% on a year-over-year basis. During the same quarter last year, the business earned $0.96 earnings per share. On average, equities research analysts predict that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Trading of Aspen Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in 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 buying an additional 65,143 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake 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 purchasing an additional 28,820 shares during the period. Dimensional Fund Advisors LP boosted 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 valued at $104,199,000 after purchasing an additional 109,783 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Aspen Technology by 3.8% in the 2nd quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock valued at $67,567,000 after purchasing an additional 12,500 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Aspen Technology by 5.9% in the 3rd quarter. Raymond James & Associates now owns 281,961 shares of the technology company’s stock worth $67,338,000 after buying an additional 15,744 shares in the last quarter. 45.66% of the stock is currently 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.