By otakuyassine3@gmail.com 
StockNews.com started coverage on shares of Aspen Technology (NASDAQ:AZPN – Free Report) in a research report report published on Saturday morning. The firm issued a hold rating on the technology company’s stock.
Other research analysts have also issued reports about the stock. 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 raised their price target on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird increased their price objective on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Aspen Technology has a consensus rating of “Hold” and a consensus target price of $261.00.
Check Out Our Latest Stock Analysis on AZPN
Aspen Technology Price Performance
Shares of NASDAQ:AZPN opened at $263.50 on Friday. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $263.96. The stock has a market cap of $16.67 billion, a P/E ratio of -454.31, a P/E/G ratio of 2.94 and a beta of 0.76. The firm has a fifty day moving average price of $250.59 and a 200 day moving average price of $232.27.
Aspen Technology (NASDAQ:AZPN – Get Free Report) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share 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 business had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. During the same quarter last year, the company posted $0.96 EPS. Aspen Technology’s quarterly revenue was down 13.4% on a year-over-year basis. Sell-side analysts expect that Aspen Technology will post 6.68 EPS for the current fiscal year.
Institutional Trading of Aspen Technology
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in Aspen Technology by 37,990.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after buying an additional 632,545 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after acquiring an additional 28,820 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after acquiring an additional 171,351 shares in the last quarter. Raymond James & Associates boosted its position in Aspen Technology by 5.9% during the 3rd quarter. Raymond James & Associates now owns 281,961 shares of the technology company’s stock worth $67,338,000 after purchasing an additional 15,744 shares during the period. Finally, Stephens Investment Management Group LLC increased its holdings in Aspen Technology by 0.3% in the 3rd quarter. Stephens Investment Management Group LLC now owns 251,257 shares of the technology company’s stock valued at $60,005,000 after purchasing an additional 677 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.
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.
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