StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN – Get Free Report) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the technology company’s stock.
Several other research analysts have also issued reports on the company. Piper Sandler upped their target price on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Robert W. Baird upped their price objective on shares of Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $258.00.
Get Our Latest Stock Analysis on AZPN
Aspen Technology Stock Performance
Aspen Technology (NASDAQ:AZPN – Get Free Report) last posted its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The firm had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. During the same period in the previous year, the company earned $0.96 EPS. The company’s revenue was down 13.4% on a year-over-year basis. On average, research analysts forecast that Aspen Technology will post 6.68 EPS for the current year.
Hedge Funds Weigh In On Aspen Technology
A number of institutional investors have recently bought and sold shares of AZPN. JPMorgan Chase & Co. lifted its holdings in shares of Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after buying an additional 171,351 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in Aspen Technology by 31.0% in the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after acquiring an additional 39,396 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Aspen Technology by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock worth $40,082,000 after purchasing an additional 10,327 shares in the last quarter. Citigroup Inc. grew its stake in shares of Aspen Technology by 15.9% during the 3rd quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock worth $5,550,000 after purchasing an additional 3,186 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased 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 purchasing an additional 28,820 shares in the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.
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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