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

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

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

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $264.33 on Friday. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $277.37. The business has a 50-day moving average price of $262.36 and a 200 day moving average price of $249.17. The firm 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 (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. On average, sell-side analysts expect that Aspen Technology will post 6.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Aspen Technology during the 4th quarter worth approximately $26,000. Atala Financial Inc acquired a new position in shares of Aspen Technology during the 4th quarter worth approximately $44,000. Bessemer Group Inc. boosted its holdings in shares of Aspen Technology by 29.7% during the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after purchasing an additional 44 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Aspen Technology by 965.0% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock worth $53,000 after purchasing an additional 193 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Aspen Technology by 5,700.0% during the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after purchasing an additional 228 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

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.