Aspen Technology (NASDAQ:AZPN) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPNFree Report) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the technology company’s stock.

Other analysts also recently issued research reports about the company. Piper Sandler boosted their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Loop Capital upped their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Bank of America raised their price target 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. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird increased their target price on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Hold” and a consensus price target of $258.00.

Get Our Latest Stock Report on Aspen Technology

Aspen Technology Price Performance

Aspen Technology stock opened at $249.36 on Thursday. The business has a 50 day moving average of $249.00 and a 200-day moving average of $227.80. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $254.44. The company has a market capitalization of $15.77 billion, a P/E ratio of -429.93, a P/E/G ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPNGet Free Report) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. Equities analysts anticipate that Aspen Technology will post 6.68 EPS for the current year.

Institutional Investors Weigh In On Aspen Technology

Several institutional investors and hedge funds have recently modified their holdings of AZPN. GAMMA Investing LLC lifted its stake in shares of Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares during the period. JPMorgan Chase & Co. raised its holdings in Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after purchasing an additional 171,351 shares in the last quarter. Franklin Resources Inc. lifted its position in Aspen Technology by 2.7% during the third quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company’s stock valued at $6,912,000 after buying an additional 778 shares during the period. Synovus Financial Corp boosted its holdings in shares of Aspen Technology by 12.6% during the 3rd quarter. Synovus Financial Corp now owns 12,487 shares of the technology company’s stock valued at $2,982,000 after buying an additional 1,396 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of Aspen Technology by 9.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company’s stock worth $3,162,000 after buying an additional 1,065 shares during the period. 45.66% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Company Profile

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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.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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