StockNews.com Begins Coverage on Aspen Technology (NASDAQ:AZPN)

StockNews.com started coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note published on Saturday. The brokerage issued a hold rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. 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 raised their price objective 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $261.00.

Aspen Technology Trading Up 3.3 %

Shares of AZPN stock opened at $263.50 on Friday. The firm has a fifty day simple moving average of $250.59 and a 200-day simple moving average of $232.27. The company has a market capitalization of $16.67 billion, a PE ratio of -454.31, a price-to-earnings-growth ratio of 2.94 and a beta of 0.76. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $263.96.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share 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 firm had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. During the same period in the previous year, the company earned $0.96 earnings per share. The business’s quarterly revenue was down 13.4% on a year-over-year basis. Equities research analysts predict that Aspen Technology will post 6.68 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AZPN. Assenagon Asset Management S.A. raised its stake in Aspen Technology by 37,990.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after acquiring an additional 632,545 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of 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 valued at $139,156,000 after purchasing an additional 28,820 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Aspen Technology by 89.2% during the 3rd 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 during the period. Raymond James & Associates lifted 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 purchasing an additional 15,744 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its position in Aspen Technology by 0.3% during the 3rd quarter. Stephens Investment Management Group LLC now owns 251,257 shares of the technology company’s stock valued at $60,005,000 after purchasing an additional 677 shares during the period. 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.