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

StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPNGet Rating) in a report released on Monday. The brokerage issued a hold rating on the technology company’s stock.

Several other research firms have also recently commented on AZPN. Piper Sandler cut their price target on Aspen Technology from $170.00 to $159.00 and set a neutral rating for the company in a report on Tuesday, May 17th. Bank of America upped their price target on Aspen Technology from $176.00 to $230.00 and gave the company a buy rating in a report on Monday, June 6th. TheStreet cut Aspen Technology from a b rating to a c+ rating in a report on Tuesday, May 17th. Finally, Loop Capital upped their price objective on Aspen Technology from $175.00 to $225.00 and gave the company a buy rating in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $183.83.

NASDAQ AZPN opened at $191.24 on Monday. Aspen Technology has a twelve month low of $122.29 and a twelve month high of $210.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.07 and a current ratio of 4.07. The stock has a market capitalization of $12.40 billion, a PE ratio of 47.69, a P/E/G ratio of 2.09 and a beta of 1.25. The stock has a 50-day simple moving average of $179.16 and a 200 day simple moving average of $159.83.

Aspen Technology (NASDAQ:AZPNGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.27 by $0.01. The firm had revenue of $187.75 million during the quarter, compared to analysts’ expectations of $190.61 million. Aspen Technology had a return on equity of 40.86% and a net margin of 39.22%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. As a group, equities research analysts forecast that Aspen Technology will post 5.13 EPS for the current fiscal year.

In related news, Director Jr. Robert M. Whelan sold 4,010 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $159.07, for a total transaction of $637,870.70. Following the sale, the director now directly owns 12,865 shares in the company, valued at approximately $2,046,435.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in Aspen Technology by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 493,947 shares of the technology company’s stock worth $60,664,000 after buying an additional 12,423 shares in the last quarter. Invesco Ltd. lifted its holdings in Aspen Technology by 2.5% during the 3rd quarter. Invesco Ltd. now owns 268,176 shares of the technology company’s stock worth $32,931,000 after buying an additional 6,450 shares in the last quarter. Man Group plc acquired a new position in Aspen Technology during the 3rd quarter worth $1,381,000. MML Investors Services LLC lifted its holdings in Aspen Technology by 8.6% during the 3rd quarter. MML Investors Services LLC now owns 2,684 shares of the technology company’s stock worth $330,000 after buying an additional 213 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in Aspen Technology by 32.5% during the 3rd quarter. LPL Financial LLC now owns 21,081 shares of the technology company’s stock worth $2,589,000 after buying an additional 5,172 shares in the last quarter. Institutional investors and hedge funds own 96.49% of the company’s stock.

About Aspen Technology (Get Rating)

Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It serves bulk chemicals, consumer packaged goods, downstream, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; power generation, transmission, and distribution industries; and engineering, procurement, and construction industries.

See Also

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

Receive News & Ratings for Aspen Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology and related companies with MarketBeat.com's FREE daily email newsletter.