Aspen Technology, Inc. (NASDAQ:AZPN) Sees Strong Short-Term Interest Growth


Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) saw a surge in short-term interest during the month of July. As of July 31, there was short interest totaling 388,800 shares, an increase of 9.1% from the July 15 total of 356,500 shares. About 1.4% of the stock’s shares are sold short. Based on an average daily volume of 222,300 shares, the short interest rate is currently 1.7 days.

Changes to analyst ratings

AZPN has been the subject of several recent analyst reports. TheStreet downgraded Aspen Technology from a “b” rating to a “c+” rating in a Tuesday, May 17 research note. Loop Capital raised its price target on Aspen Technology from $175.00 to $225.00 and gave the company a “buy” rating in a Wednesday, June 15 report. Robert W. Baird raised his price target on Aspen Technology to $182.00 in a report on Monday. Wolfe Research launched coverage on the Aspen technology in a report on Tuesday. They attached a “market performance” rating to the stock. Finally, Bank of America raised its price target on Aspen Technology from $176.00 to $230.00 and gave the company a “buy” rating in a Monday, June 6 report. Four equity research analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, Aspen Technology has an average rating of “Hold” and a consensus target price of $207.20.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Aspen Technology to 956.3% in the 4th quarter. First Horizon Advisors Inc. now owns 169 shares of the technology company valued at $25,000 after buying 153 additional shares during the period. Confluence Wealth Services Inc. acquired a new stake in Aspen Technology in Q4, valued at approximately $28,000. Parallel Advisors LLC increased its position in Aspen Technology by 37.6% in Q1. Parallel Advisors LLC now owns 293 shares of the technology company valued at $48,000 after buying 80 more shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in Aspen Technology in Q1 worth around $50,000. Finally, Harvest Fund Management Co. Ltd increased its position in Aspen Technology by 1,058.6% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 336 shares of the technology company valued at $55,000 after buying 307 additional shares in the last quarter. 96.49% of the shares are held by institutional investors and hedge funds.

Aspen tech stock down 1.7%

AZPN shares opened at $215.11 on Wednesday. The company has a market capitalization of $13.95 billion, a PE ratio of 57.36, a PEG ratio of 2.08 and a beta of 1.21. Aspen Technology has a 12-month low of $122.29 and a 12-month high of $220.54. The stock’s 50-day moving average price is $193.88 and its two-hundred-day moving average price is $171.95. The company has a current ratio of 3.47, a quick ratio of 4.07 and a debt ratio of 0.02.

Aspen Technology Inc (NASDAQ:AZPN – Get Rating) last announced its results on Monday, August 8. The technology company reported EPS of $2.43 for the quarter, beating the consensus estimate of $2.07 by $0.36. The company posted revenue of $238.90 million for the quarter, versus a consensus estimate of $293.17 million. Aspen Technology had a return on equity of 8.23% and a net margin of 31.82%. The company’s quarterly revenue increased by 20.7% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $1.43. On average, analysts expect Aspen Technology to post EPS of 5.72 for the current year.

Aspen Technology Company Profile

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Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring and asset optimization solutions worldwide. The company’s solutions address complex environments where it is essential to optimize the design, operation and maintenance lifecycle of assets. It serves bulk chemicals, consumer packaged goods, downstream, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulps and papers, specialty chemicals, transportation, upstream, and water and wastewater industries; power generation, transmission and distribution industries; and the engineering, procurement and construction industries.

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