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

StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report released on Friday. The firm set a “hold” rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and boosted their price target for the company from $265.00 to $315.00 in a research note on Monday, February 10th. Piper Sandler increased their target price on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. 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 cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Price Performance

Shares of AZPN stock opened at $264.33 on Friday. Aspen Technology has a 12-month low of $171.25 and a 12-month high of $277.37. The firm has a 50 day moving average price of $264.38 and a two-hundred day moving average price of $257.01. The company 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.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Aspen Technology by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock worth $42,524,000 after buying an additional 2,518 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in Aspen Technology during the fourth quarter worth $216,000. Assenagon Asset Management S.A. boosted its position in Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after purchasing an additional 632,545 shares during the last quarter. Raymond James Financial Inc. bought a new position in Aspen Technology in the 4th quarter valued at $66,680,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Aspen Technology during the 4th quarter valued at $228,000. 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.