October 2, 2022

Short Interest in Aspen Technology, Inc. (NASDAQ:AZPN) Drops By 56.3%

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Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 435,700 shares, a decrease of 56.3% from the May 15th total of 997,600 shares. Based on an average trading volume of 407,200 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.7% of the company’s shares are sold short.

In other news, Director Jr. Robert M. Whelan sold 4,010 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was 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 of the company’s stock, valued at $2,046,435.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. raised its position in Aspen Technology by 956.3% during the fourth quarter. First Horizon Advisors Inc. now owns 169 shares of the technology company’s stock worth $25,000 after acquiring an additional 153 shares in the last quarter. Confluence Wealth Services Inc. bought a new stake in Aspen Technology during the fourth quarter worth $28,000. Parallel Advisors LLC raised its position in Aspen Technology by 97.2% during the fourth quarter. Parallel Advisors LLC now owns 213 shares of the technology company’s stock worth $32,000 after acquiring an additional 105 shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in Aspen Technology during the fourth quarter worth $33,000. Finally, National Bank of Canada FI bought a new position in shares of Aspen Technology in the fourth quarter valued at about $34,000. 96.49% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on AZPN. StockNews.com started coverage on Aspen Technology in a research note on Sunday. They set a “buy” rating on the stock. Bank of America increased their target price on Aspen Technology from $176.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, June 6th. TheStreet lowered Aspen Technology from a “b” rating to a “c+” rating in a research note on Tuesday, May 17th. Piper Sandler cut their target price on Aspen Technology from $170.00 to $159.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 17th. Finally, Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $160.00 to $175.00 in a research note on Thursday, March 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $175.50.

Shares of AZPN stock opened at $196.00 on Friday. The company’s fifty day simple moving average is $174.78 and its 200-day simple moving average is $157.25. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.33. The firm has a market cap of $12.71 billion, a PE ratio of 48.88, a P/E/G ratio of 2.08 and a beta of 1.25. Aspen Technology has a 12 month low of $122.29 and a 12 month high of $210.60.

Aspen Technology (NASDAQ:AZPN – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.28 EPS for the quarter, topping 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 business 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 firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities analysts predict that Aspen Technology will post 5.13 earnings per share for the current fiscal year.

About Aspen Technology (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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