Aspen Technology (NASDAQ:AZPN) Sets New 12-Month High – What’s Next?

Aspen Technology, Inc. (NASDAQ:AZPN) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $263.64 and last traded at $263.40, with a volume of 327294 shares traded. The stock had previously closed at $255.16.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AZPN shares. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird raised their target price on Aspen Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. StockNews.com began coverage on Aspen Technology in a research report on Saturday. They set a “hold” rating on the stock. Finally, Piper Sandler boosted their price objective on Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $258.00.

Aspen Technology Stock Up 3.3 %

The firm has a market capitalization of $16.67 billion, a PE ratio of -454.29, a PEG ratio of 2.94 and a beta of 0.76. The company has a 50-day moving average of $250.59 and a 200 day moving average of $232.27.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly 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 positive return on equity of 2.81% and a negative net margin of 3.26%. The company had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. During the same period last year, the firm earned $0.96 earnings per share. Aspen Technology’s revenue for the quarter was down 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Quent Capital LLC raised its holdings in Aspen Technology by 364.9% in the third quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock worth $41,000 after buying an additional 135 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Aspen Technology in the 3rd quarter worth approximately $48,000. GAMMA Investing LLC lifted its position in Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after acquiring an additional 58 shares in the last quarter. Blue Trust Inc. boosted its stake in Aspen Technology by 7,575.0% during the 4th quarter. Blue Trust Inc. now owns 307 shares of the technology company’s stock valued at $73,000 after purchasing an additional 303 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new stake in shares of Aspen Technology in the 3rd quarter worth $77,000. 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.