StockNews.com Initiates Coverage on Aspen Technology (NASDAQ:AZPN)

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

Other research analysts have also recently issued reports about the company. Robert W. Baird reaffirmed 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. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, 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 note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Aspen Technology has a consensus rating of “Hold” and a consensus target price of $272.00.

Aspen Technology Stock Performance

Shares of NASDAQ AZPN opened at $264.33 on Friday. The stock has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The stock’s 50-day moving average is $263.75 and its 200 day moving average is $250.66. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $277.37.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share 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%. On average, analysts forecast that Aspen Technology will post 6.7 EPS for the current fiscal year.

Institutional Trading of Aspen Technology

Large investors have recently added to or reduced their stakes in the stock. Bailard Inc. boosted its stake in shares of Aspen Technology by 0.9% during the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock valued at $1,134,000 after purchasing an additional 41 shares in the last quarter. Net Worth Advisory Group grew its holdings in shares of Aspen Technology by 1.0% during the 4th quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after acquiring an additional 41 shares during the period. Bessemer Group Inc. raised its position in shares of Aspen Technology by 29.7% in the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after acquiring an additional 44 shares in the last quarter. Heritage Family Offices LLP lifted its stake in shares of Aspen Technology by 2.8% in the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after purchasing an additional 47 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares in the last quarter. Institutional investors 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.