Short Interest in Aspen Technology, Inc. (NASDAQ:AZPN) Expands By 53.8%

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Aspen Technology, Inc. (NASDAQ:AZPN) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totalling 2,583,400 shares, a growth of 53.8% from the February 27th total of 1,680,000 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,038,500 shares, the short-interest ratio is presently 2.5 days.

Several research analysts recently commented on AZPN shares. ValuEngine upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. BidaskClub upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Robert W. Baird restated a “buy” rating and issued a $145.00 price target on shares of Aspen Technology in a report on Friday, January 31st. KeyCorp raised their price target on shares of Aspen Technology from $141.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Finally, Wedbush raised their price target on shares of Aspen Technology from $145.00 to $154.00 and gave the company a “positive” rating in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Aspen Technology has an average rating of “Buy” and a consensus price target of $139.86.

AZPN opened at $98.13 on Friday. The firm has a market capitalization of $5.82 billion, a P/E ratio of 27.26 and a beta of 1.54. The firm’s 50 day moving average is $108.52 and its 200-day moving average is $119.92. Aspen Technology has a 52-week low of $73.07 and a 52-week high of $142.89. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.84.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). The firm had revenue of $124.73 million for the quarter, compared to analysts’ expectations of $135.46 million. Aspen Technology had a net margin of 41.49% and a return on equity of 63.67%. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 EPS. Equities analysts expect that Aspen Technology will post 3.22 earnings per share for the current fiscal year.

In related news, CFO Karl E. Johnsen sold 1,622 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $136.45, for a total value of $221,321.90. Following the transaction, the chief financial officer now owns 25,439 shares in the company, valued at $3,471,151.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AZPN. Norges Bank purchased a new stake in shares of Aspen Technology during the fourth quarter valued at approximately $94,498,000. Point72 Asset Management L.P. raised its stake in shares of Aspen Technology by 9,715.5% during the third quarter. Point72 Asset Management L.P. now owns 398,315 shares of the technology company’s stock valued at $49,025,000 after purchasing an additional 394,257 shares during the period. FMR LLC raised its stake in shares of Aspen Technology by 22.3% during the fourth quarter. FMR LLC now owns 1,479,810 shares of the technology company’s stock valued at $178,954,000 after purchasing an additional 270,157 shares during the period. Fred Alger Management LLC raised its stake in shares of Aspen Technology by 107.8% during the fourth quarter. Fred Alger Management LLC now owns 518,343 shares of the technology company’s stock valued at $62,683,000 after purchasing an additional 268,925 shares during the period. Finally, Echo Street Capital Management LLC raised its stake in shares of Aspen Technology by 233.9% during the fourth quarter. Echo Street Capital Management LLC now owns 307,652 shares of the technology company’s stock valued at $37,204,000 after purchasing an additional 215,510 shares during the period. Institutional investors own 96.03% of the company’s stock.

About Aspen Technology

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.

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