Aspen Technology (NASDAQ:AZPN) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the technology company’s stock.

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

Aspen Technology Stock Performance

NASDAQ:AZPN opened at $264.33 on Friday. The firm has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The stock has a 50 day moving average of $261.08 and a 200-day moving average of $248.12. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $277.37.

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

Institutional Investors Weigh In On Aspen Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Aspen Technology during the 4th quarter valued at $2,740,000. Siemens Fonds Invest GmbH acquired a new stake in shares of Aspen Technology during the 4th quarter valued at $2,728,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Aspen Technology during the 4th quarter valued at $1,065,000. ABLE Financial Group LLC lifted its position in shares of Aspen Technology by 14.0% during the 4th quarter. ABLE Financial Group LLC now owns 7,318 shares of the technology company’s stock valued at $1,827,000 after acquiring an additional 896 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Aspen Technology during the 4th quarter valued at $1,248,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

About Aspen Technology

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.