October 3, 2022
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StockNews.com Initiates Coverage on Aspen Technology (NASDAQ:AZPN)

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

A number of other equities research analysts also recently issued reports on AZPN. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $160.00 to $175.00 in a research report on Thursday, March 17th. Piper Sandler dropped their price target on Aspen Technology from $170.00 to $159.00 and set a “neutral” rating for the company in a research report on Tuesday, May 17th. Zacks Investment Research raised Aspen Technology from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Monday, May 2nd. Finally, TheStreet downgraded shares of Aspen Technology from a “b” rating to a “c+” rating in a research note on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $167.00.

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AZPN stock opened at $201.70 on Friday. The stock has a 50-day simple moving average of $170.94 and a two-hundred day simple moving average of $155.51. Aspen Technology has a twelve month low of $122.29 and a twelve month high of $203.75. The firm has a market capitalization of $13.08 billion, a PE ratio of 50.30, a PEG ratio of 4.92 and a beta of 1.25. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.33.

Aspen Technology (NASDAQ:AZPN – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.28 EPS for the quarter, beating 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 company had revenue of $187.75 million during the quarter, compared to analysts’ expectations of $190.61 million. During the same quarter in the previous year, the company earned $0.94 earnings per share. Aspen Technology’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts anticipate 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 that occurred on Wednesday, May 11th. The shares were sold at an average price of $159.07, for a total value of $637,870.70. Following the completion of the sale, the director now directly owns 12,865 shares in the company, valued at approximately $2,046,435.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of AZPN. Epoch Investment Partners Inc. lifted its stake in 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. FIL Ltd lifted its stake in Aspen Technology by 114.4% in the third quarter. FIL Ltd now owns 1,407,329 shares of the technology company’s stock worth $172,820,000 after purchasing an additional 750,829 shares during the last quarter. Norges Bank bought a new stake in Aspen Technology in the fourth quarter worth $98,240,000. Standard Investments LLC lifted its stake in 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. Finally, BlackRock Inc. lifted its stake in 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. 96.49% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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