Aspen Technology (NASDAQ:AZPN) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note published on Wednesday morning. The brokerage issued a hold rating on the technology company’s stock.

A number of other research firms have also recently issued reports on AZPN. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler lifted their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $263.59 on Wednesday. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 3,295.29, a PEG ratio of 3.00 and a beta of 0.76. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $277.37. The firm’s 50 day simple moving average is $257.24 and its 200-day simple moving average is $243.54.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Analysts anticipate that Aspen Technology will post 6.7 earnings per share for the current fiscal year.

Institutional Trading of Aspen Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in Aspen Technology in the 4th quarter valued at about $26,000. Atala Financial Inc purchased a new stake in Aspen Technology in the 4th quarter valued at about $44,000. Bessemer Group Inc. raised its holdings in Aspen Technology by 29.7% in 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 during the period. Jones Financial Companies Lllp raised its holdings in Aspen Technology by 965.0% in the 4th 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. raised its holdings in Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after buying an additional 228 shares during the period. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

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.