Aspen Technology, Inc. (NASDAQ:AZPN) Sees Significant Drop in Short Interest

Aspen Technology, Inc. (NASDAQ:AZPN) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,340,000 shares, a decrease of 8.2% from the June 30th total of 1,460,000 shares. Based on an average trading volume of 211,700 shares, the short-interest ratio is currently 6.3 days. Approximately 5.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler cut their price target on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Robert W. Baird reissued an “outperform” rating and issued a $230.00 target price on shares of Aspen Technology in a report on Friday, June 14th. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $185.00 to $255.00 in a report on Friday, May 17th. Finally, William Blair raised Aspen Technology to a “hold” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $219.50.

Aspen Technology Trading Up 0.2 %

AZPN stock traded up $0.33 during midday trading on Tuesday, reaching $189.30. 77,527 shares of the company’s stock traded hands, compared to its average volume of 202,022. The company has a 50-day simple moving average of $200.55 and a two-hundred day simple moving average of $200.01. Aspen Technology has a 1-year low of $162.26 and a 1-year high of $224.77.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.39. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The firm had revenue of $278.11 million during the quarter, compared to analysts’ expectations of $251.65 million. Analysts expect that Aspen Technology will post 5.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mather Group LLC. boosted its position in Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after buying an additional 130 shares during the last quarter. Crewe Advisors LLC boosted its position in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Aspen Technology in the 2nd quarter worth $37,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Aspen Technology by 561.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock worth $48,000 after purchasing an additional 191 shares during the last quarter. 45.66% of the stock is currently owned by 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.