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

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

Several other equities research analysts also recently weighed in on the company. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price target (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Piper Sandler raised their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Technology currently has a consensus rating of “Hold” and a consensus price target of $261.00.

Aspen Technology Stock Up 0.2 %

NASDAQ AZPN opened at $264.20 on Friday. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $265.05. The stock has a market cap of $16.71 billion, a price-to-earnings ratio of -455.52, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. The business has a fifty day moving average of $252.23 and a 200-day moving average of $234.64.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 earnings per share. As a group, analysts anticipate that Aspen Technology will post 6.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after buying an additional 171,351 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Aspen Technology by 31.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock worth $39,728,000 after buying an additional 39,396 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Aspen Technology by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock worth $40,082,000 after buying an additional 10,327 shares during the period. Citigroup Inc. raised its stake in Aspen Technology by 15.9% during the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock worth $5,550,000 after acquiring an additional 3,186 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in shares of Aspen Technology in the 4th quarter worth about $216,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

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.