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

StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPNGet Rating) in a report issued on Monday. The firm issued a hold rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on AZPN. Piper Sandler dropped their price target on shares of Aspen Technology from $170.00 to $159.00 and set a neutral rating for the company in a research report on Tuesday, May 17th. Loop Capital lifted their price target on shares of Aspen Technology from $175.00 to $225.00 and gave the company a buy rating in a research report on Wednesday, June 15th. TheStreet downgraded shares of Aspen Technology from a b rating to a c+ rating in a research report on Tuesday, May 17th. Finally, Bank of America lifted their price objective 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $183.83.

Aspen Technology stock opened at $191.24 on Monday. Aspen Technology has a 52 week low of $122.29 and a 52 week high of $210.60. 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 stock has a market capitalization of $12.40 billion, a P/E ratio of 47.69, a PEG ratio of 2.09 and a beta of 1.25. The stock has a 50-day simple moving average of $179.16 and a 200 day simple moving average of $159.83.

Aspen Technology (NASDAQ:AZPNGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. Aspen Technology had a net margin of 39.22% and a return on equity of 40.86%. The company had revenue of $187.75 million during the quarter, compared to the consensus estimate of $190.61 million. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. Research analysts forecast that Aspen Technology will post 5.13 earnings per share for the current year.

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

Several institutional investors have recently modified their holdings of AZPN. Epoch Investment Partners Inc. grew its stake in shares of Aspen Technology by 296.1% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,435 shares of the technology company’s stock worth $161,094,000 after purchasing an additional 791,211 shares during the last quarter. Standard Investments LLC grew its stake in shares of Aspen Technology by 22.2% in the fourth quarter. Standard Investments LLC now owns 2,439,000 shares of the technology company’s stock worth $371,216,000 after purchasing an additional 443,000 shares during the last quarter. BlackRock Inc. grew its stake in shares of Aspen Technology by 6.5% in the first quarter. BlackRock Inc. now owns 6,645,133 shares of the technology company’s stock worth $1,098,905,000 after purchasing an additional 407,220 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Aspen Technology by 96.1% in the first quarter. Lord Abbett & CO. LLC now owns 527,069 shares of the technology company’s stock worth $87,161,000 after purchasing an additional 258,347 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new stake in shares of Aspen Technology in the fourth quarter worth $29,556,000. 96.49% of the stock is currently owned by institutional investors.

About Aspen Technology (Get Rating)

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 serves bulk chemicals, consumer packaged goods, downstream, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; power generation, transmission, and distribution industries; and engineering, procurement, and construction industries.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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