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

StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report sent to investors on Tuesday. The firm issued a hold rating on the technology company’s stock.

A number of other brokerages have also recently commented on AZPN. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital upped their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Piper Sandler raised their price target 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. Robert W. Baird upped their price objective on shares of Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Bank of America raised their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Hold” and an average target price of $258.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $250.51 on Tuesday. The stock has a market cap of $15.84 billion, a PE ratio of -431.91, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. The stock has a 50-day moving average of $245.71 and a two-hundred day moving average of $223.61. Aspen Technology has a one year low of $171.25 and a one year high of $254.44.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). The company had revenue of $215.90 million during 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 revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. As a group, sell-side analysts predict that Aspen Technology will post 6.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds have recently modified their holdings of AZPN. 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. US Bancorp DE lifted its position in shares of Aspen Technology by 0.4% during the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock valued at $3,271,000 after buying an additional 50 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Aspen Technology by 1.8% in the 3rd 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 period. Tortoise Investment Management LLC increased 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 acquiring an additional 56 shares in the last quarter. Finally, Kolinsky Wealth Management LLC raised its position in Aspen Technology by 4.7% during the third quarter. Kolinsky Wealth Management LLC now owns 1,329 shares of the technology company’s stock worth $317,000 after acquiring an additional 60 shares during the period. 45.66% of the stock is owned by hedge funds and other institutional investors.

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.