Aspen Technology (NASDAQ:AZPN) Sees Strong Trading Volume – Time to Buy?

Aspen Technology, Inc. (NASDAQ:AZPN) shares saw unusually-strong trading volume on Tuesday . Approximately 185,016 shares changed hands during trading, a decline of 23% from the previous session’s volume of 239,293 shares.The stock last traded at $248.90 and had previously closed at $248.34.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AZPN shares. Piper Sandler boosted their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird upped their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com began coverage on shares of Aspen Technology in a research report on Saturday, November 30th. They set a “hold” rating on the stock. Loop Capital upped their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Trading Up 0.9 %

The business’s 50 day moving average price is $241.44 and its two-hundred day moving average price is $219.78. The stock has a market cap of $15.86 billion, a P/E ratio of -432.45, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC raised its position in Aspen Technology by 53.4% during the first quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock worth $361,000 after acquiring an additional 589 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Aspen Technology during the first quarter worth about $262,000. GAMMA Investing LLC lifted its position in shares of Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Mather Group LLC. raised its holdings in Aspen Technology by 2,600.0% in the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after acquiring an additional 130 shares in the last quarter. Finally, OLD National Bancorp IN purchased a new position in Aspen Technology in the second quarter valued at approximately $390,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

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.