Aspen Technology, Inc. (NASDAQ:AZPN) Given Consensus Rating of “Hold” by Brokerages

Aspen Technology, Inc. (NASDAQ:AZPN) has been assigned a consensus rating of "Hold" from the nine brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $165.57.

A number of research firms recently weighed in on AZPN. Piper Sandler began coverage on shares of Aspen Technology in a research report on Thursday, October 14th. They issued a "neutral" rating and a $170.00 price objective on the stock. Loop Capital began coverage on shares of Aspen Technology in a research report on Thursday, November 18th. They issued a "hold" rating and a $160.00 price objective on the stock. KeyCorp lowered their price objective on shares of Aspen Technology from $180.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, October 28th. Zacks Investment Research lowered shares of Aspen Technology from a "buy" rating to a "hold" rating and set a $164.00 price objective on the stock. in a research report on Tuesday, November 2nd. Finally, Robert W. Baird lifted their price objective on shares of Aspen Technology from $145.00 to $170.00 and gave the company an "outperform" rating in a research report on Tuesday, October 12th. They noted that the move was a valuation call.

In related news, Director Donald P. Casey sold 10,673 shares of the business's stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $152.51, for a total value of $1,627,739.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in AZPN. O Shaughnessy Asset Management LLC boosted its position in Aspen Technology by 123.2% during the second quarter. O Shaughnessy Asset Management LLC now owns 221 shares of the technology company's stock worth $30,000 after acquiring an additional 122 shares during the last quarter. Fifth Third Bancorp boosted its position in Aspen Technology by 27.3% during the third quarter. Fifth Third Bancorp now owns 312 shares of the technology company's stock worth $38,000 after acquiring an additional 67 shares during the last quarter. Kings Point Capital Management acquired a new stake in Aspen Technology during the third quarter worth approximately $38,000. Rockefeller Capital Management L.P. boosted its position in Aspen Technology by 3,610.0% during the third quarter. Rockefeller Capital Management L.P. now owns 371 shares of the technology company's stock worth $45,000 after acquiring an additional 361 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Aspen Technology by 209.9% during the third quarter. Benjamin Edwards Inc. now owns 406 shares of the technology company's stock worth $50,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 97.66% of the company's stock.

Shares of AZPN opened at $152.20 on Friday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.39. The firm has a market cap of $10.19 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 4.55 and a beta of 1.36. The company's 50 day simple moving average is $151.50 and its 200-day simple moving average is $142.87. Aspen Technology has a 12-month low of $122.29 and a 12-month high of $169.22.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.12. The business had revenue of $136.00 million for the quarter, compared to analyst estimates of $125.23 million. Aspen Technology had a net margin of 44.70% and a return on equity of 47.03%. The company's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. As a group, equities research analysts forecast that Aspen Technology will post 4.49 EPS for the current fiscal year.

Aspen Technology Company Profile

Aspen Technology, Inc engages in the provision of asset optimization solutions. It develops its applications to design, and optimize processes across the engineering, manufacturing, supply chain, and asset performance management areas. The firm operates through the Subscription and Software, and Services and Other segments.

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