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

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

A number of other research firms have also recently commented on AZPN. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler lifted their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Loop Capital upped their price target on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Robert W. Baird lifted their price objective on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Bank of America upped their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $258.00.

Aspen Technology Trading Down 0.7 %

Shares of NASDAQ:AZPN opened at $249.36 on Thursday. The stock has a fifty day simple moving average of $249.00 and a two-hundred day simple moving average of $227.80. Aspen Technology has a 12-month low of $171.25 and a 12-month high of $254.44. The stock has a market capitalization of $15.77 billion, a price-to-earnings ratio of -429.93, a PEG ratio of 2.89 and a beta of 0.76.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in shares of Aspen Technology by 9.7% in the second quarter. TD Asset Management Inc now owns 2,833 shares of the technology company’s stock worth $563,000 after buying an additional 251 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Aspen Technology during the 2nd quarter valued at $110,000. Quest Partners LLC raised its holdings in Aspen Technology by 15,800.0% in the 2nd quarter. Quest Partners LLC now owns 954 shares of the technology company’s stock worth $189,000 after purchasing an additional 948 shares during the period. Prudential PLC lifted its position in Aspen Technology by 24.7% during the second quarter. Prudential PLC now owns 6,859 shares of the technology company’s stock valued at $1,362,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in Aspen Technology by 41.1% during the second quarter. Texas Permanent School Fund Corp now owns 34,530 shares of the technology company’s stock valued at $6,859,000 after purchasing an additional 10,058 shares during the period. Institutional investors own 45.66% of the company’s stock.

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.