Aspen Technology, Inc. (NASDAQ:AZPN) Short Interest Update

Aspen Technology, Inc. (NASDAQ:AZPN) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,180,000 shares, a decrease of 12.6% from the October 31st total of 1,350,000 shares. Currently, 4.4% of the company’s stock are sold short. Based on an average daily trading volume, of 316,700 shares, the days-to-cover ratio is presently 3.7 days.

Institutional Investors Weigh In On Aspen Technology

Hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its stake in Aspen Technology by 1,034.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after purchasing an additional 35,056 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Aspen Technology during the second quarter valued at approximately $3,042,000. Brown Brothers Harriman & Co. increased its position in shares of Aspen Technology by 31.0% during the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after acquiring an additional 39,396 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Aspen Technology by 89.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock valued at $432,000 after acquiring an additional 998 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Aspen Technology by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after purchasing an additional 28,820 shares during the last quarter. 45.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Aspen Technology Stock Up 0.4 %

Shares of AZPN stock traded up $1.00 during mid-day trading on Monday, reaching $251.00. 133,932 shares of the company’s stock traded hands, compared to its average volume of 236,778. The company’s 50-day moving average price is $240.40 and its 200-day moving average price is $219.14. The company has a market cap of $15.88 billion, a P/E ratio of -433.52, a P/E/G ratio of 2.85 and a beta of 0.76. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.04.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share 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 the consensus estimate of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. Aspen Technology’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. Equities analysts predict that Aspen Technology will post 6.68 earnings per share for the current year.

Aspen Technology Company Profile

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.