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

Posted by on Jun 20th, 2022

Analysts at StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN – Get Rating) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other equities analysts have also commented on the stock. Piper Sandler decreased their price objective on shares of Aspen Technology from $170.00 to $159.00 and set a “neutral” rating for the company in a research note on Tuesday, May 17th. Loop Capital raised their price objective on shares of Aspen Technology from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 15th. TheStreet lowered shares of Aspen Technology from a “b” rating to a “c+” rating in a research note on Tuesday, May 17th. Finally, Bank of America lifted their target price on shares of Aspen Technology from $176.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $183.83.

Aspen Technology stock opened at $189.20 on Monday. 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 firm has a market cap of $12.27 billion, a price-to-earnings ratio of 47.18, a price-to-earnings-growth ratio of 2.00 and a beta of 1.25. Aspen Technology has a 1 year low of $122.29 and a 1 year high of $210.60. The firm’s 50 day moving average price is $176.69 and its two-hundred day moving average price is $158.64.

Aspen Technology (NASDAQ:AZPN – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. Aspen Technology had a net margin of 39.22% and a return on equity of 40.86%. The firm had revenue of $187.75 million for the quarter, compared to analyst estimates of $190.61 million. During the same quarter in the previous year, the business posted $0.94 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts predict that Aspen Technology will post 5.13 EPS for the current fiscal year.

In other news, Director Jr. Robert M. Whelan sold 4,010 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $159.07, for a total transaction of $637,870.70. Following the transaction, the director now owns 12,865 shares in the company, valued at approximately $2,046,435.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. MUFG Americas Holdings Corp increased its holdings in shares of Aspen Technology by 17.4% during the 1st quarter. MUFG Americas Holdings Corp now owns 431 shares of the technology company’s stock worth $71,000 after purchasing an additional 64 shares during the period. Roberts Wealth Advisors LLC increased its stake in Aspen Technology by 0.6% in the first quarter. Roberts Wealth Advisors LLC now owns 11,323 shares of the technology company’s stock valued at $1,890,000 after acquiring an additional 68 shares during the period. Fifth Third Bancorp increased its stake in Aspen Technology by 25.0% in the fourth quarter. Fifth Third Bancorp now owns 390 shares of the technology company’s stock valued at $59,000 after acquiring an additional 78 shares during the period. Koshinski Asset Management Inc. increased its stake in Aspen Technology by 2.6% in the first quarter. Koshinski Asset Management Inc. now owns 3,140 shares of the technology company’s stock valued at $519,000 after acquiring an additional 80 shares during the period. Finally, Parallel Advisors LLC increased its stake in Aspen Technology by 37.6% in the first quarter. Parallel Advisors LLC now owns 293 shares of the technology company’s stock valued at $48,000 after acquiring an additional 80 shares during the period. Institutional investors own 96.49% of the company’s stock.

Aspen Technology Company Profile (Get Rating)

Aspen Technology, Inc, together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates in two segments, Subscription and Software, and Services and Other. It offers asset optimization software that optimizes asset design, operations, and maintenance in various industrial environments.

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