Aspen Technology (NASDAQ:AZPN) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report released on Sunday. The firm issued a hold rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on the company. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Piper Sandler lifted their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their target price for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $272.00.

Aspen Technology Price Performance

Aspen Technology stock opened at $264.33 on Friday. The stock has a market cap of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology has a 12-month low of $171.25 and a 12-month high of $277.37. The business’s 50-day moving average price is $263.75 and its two-hundred day moving average price is $250.66.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. As a group, analysts expect that Aspen Technology will post 6.7 earnings per share for the current year.

Institutional Investors Weigh In On Aspen Technology

A number of hedge funds have recently added to or reduced their stakes in AZPN. SBI Securities Co. Ltd. purchased a new stake in shares of Aspen Technology during the fourth quarter valued at approximately $26,000. Atala Financial Inc bought a new position in Aspen Technology in the 4th quarter worth about $44,000. Bessemer Group Inc. grew its holdings in Aspen Technology by 29.7% during the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock valued at $48,000 after buying an additional 44 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Aspen Technology by 965.0% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after buying an additional 193 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Aspen Technology by 5,700.0% in the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

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.