Aspen Technology, Inc. (NASDAQ:AZPN) Short Interest Update

Aspen Technology, Inc. (NASDAQ:AZPNGet Rating) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 554,200 shares, an increase of 5.6% from the August 15th total of 524,800 shares. Based on an average daily trading volume, of 169,200 shares, the days-to-cover ratio is currently 3.3 days. Currently, 2.0% of the company’s stock are sold short.

Aspen Technology Price Performance

Shares of NASDAQ:AZPN opened at $226.24 on Wednesday. The firm’s 50 day moving average is $207.29 and its two-hundred day moving average is $184.71. The firm has a market capitalization of $14.67 billion, a P/E ratio of 60.33, a PEG ratio of 2.02 and a beta of 1.19. The company has a current ratio of 3.47, a quick ratio of 4.07 and a debt-to-equity ratio of 0.02. Aspen Technology has a 52 week low of $122.29 and a 52 week high of $232.29.

Aspen Technology (NASDAQ:AZPNGet Rating) last posted its earnings results on Monday, August 8th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.07 by $0.36. Aspen Technology had a return on equity of 8.23% and a net margin of 31.82%. The firm had revenue of $238.90 million for the quarter, compared to analysts’ expectations of $293.17 million. During the same period last year, the firm earned $1.43 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. Analysts anticipate that Aspen Technology will post 6.16 earnings per share for the current year.

Insider Activity at Aspen Technology

In other news, VP F G. Hammond sold 4,262 shares of Aspen Technology stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $211.57, for a total value of $901,711.34. Following the completion of the transaction, the vice president now owns 20,606 shares in the company, valued at approximately $4,359,611.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aspen Technology

A number of hedge funds and other institutional investors have recently modified their holdings of AZPN. Parallel Advisors LLC increased its stake in Aspen Technology by 37.6% during the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company’s stock valued at $48,000 after buying an additional 80 shares during the period. Nisa Investment Advisors LLC bought a new stake in Aspen Technology during the first quarter worth approximately $50,000. Eagle Bay Advisors LLC lifted its position in Aspen Technology by 20.7% in the second quarter. Eagle Bay Advisors LLC now owns 332 shares of the technology company’s stock worth $61,000 after purchasing an additional 57 shares during the period. Harvest Fund Management Co. Ltd increased its position in shares of Aspen Technology by 1,058.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 336 shares of the technology company’s stock valued at $55,000 after purchasing an additional 307 shares during the period. Finally, Venture Visionary Partners LLC bought a new stake in shares of Aspen Technology in the 2nd quarter worth $76,000. 93.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZPN has been the topic of a number of recent research reports. StockNews.com upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Robert W. Baird raised their target price on shares of Aspen Technology to $182.00 in a report on Monday, August 15th. Piper Sandler lifted their target price on Aspen Technology from $189.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday. Bank of America increased their price target on Aspen Technology from $176.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. Finally, Loop Capital boosted their price objective on Aspen Technology from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, June 15th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Hold” and an average price target of $217.40.

About Aspen Technology

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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 offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.

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