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

Aspen Technology, Inc. (NASDAQ:AZPN) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 1,450,000 shares, an increase of 5.8% from the March 15th total of 1,370,000 shares. Based on an average daily trading volume, of 206,000 shares, the days-to-cover ratio is currently 7.0 days. Currently, 5.4% of the shares of the stock are short sold.

Institutional Trading of Aspen Technology

Large investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Aspen Technology in the 1st quarter worth about $29,000. Compass Wealth Management LLC bought a new stake in shares of Aspen Technology in the 4th quarter worth about $29,000. Belpointe Asset Management LLC grew its holdings in Aspen Technology by 88.0% during the 1st quarter. Belpointe Asset Management LLC now owns 141 shares of the technology company’s stock valued at $32,000 after purchasing an additional 66 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in Aspen Technology during the 2nd quarter valued at about $34,000. Finally, CWM LLC grew its holdings in Aspen Technology by 43.9% during the 3rd quarter. CWM LLC now owns 226 shares of the technology company’s stock valued at $46,000 after purchasing an additional 69 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AZPN. Piper Sandler reaffirmed a “neutral” rating and set a $196.00 price objective on shares of Aspen Technology in a report on Wednesday, February 7th. StockNews.com raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Four investment 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.com, the company has a consensus rating of “Hold” and an average target price of $210.25.

Aspen Technology Trading Up 0.4 %

Shares of AZPN stock traded up $0.74 on Tuesday, reaching $201.59. The company’s stock had a trading volume of 52,453 shares, compared to its average volume of 199,652. The stock’s fifty day simple moving average is $198.12 and its 200-day simple moving average is $196.55. Aspen Technology has a 1 year low of $161.32 and a 1 year high of $242.10. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of -149.61, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). Aspen Technology had a positive return on equity of 2.38% and a negative net margin of 8.17%. The business had revenue of $257.16 million during the quarter, compared to the consensus estimate of $259.70 million. Equities research analysts forecast that Aspen Technology will post 5.82 earnings per share for the current year.

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.