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

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report issued on Saturday. The brokerage set a “hold” rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. 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. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Aspen Technology has an average rating of “Hold” and a consensus target price of $276.25.

Aspen Technology Stock Performance

Shares of AZPN opened at $264.33 on Friday. The company has a market capitalization of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology has a one year low of $171.25 and a one year high of $277.37. The stock has a 50-day moving average price of $264.34 and a 200 day moving average price of $258.07.

Institutional Trading of Aspen Technology

A number of institutional investors and hedge funds have recently made changes to their positions in AZPN. Barclays PLC raised its position in shares of Aspen Technology by 23.6% during the 3rd quarter. Barclays PLC now owns 79,418 shares of the technology company’s stock worth $18,966,000 after purchasing an additional 15,176 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Aspen Technology during the 4th quarter worth approximately $228,000. Avanza Fonder AB acquired a new stake in shares of Aspen Technology during the 4th quarter worth approximately $424,000. Mitchell & Pahl Private Wealth LLC raised its position in shares of Aspen Technology by 6.4% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 2,964 shares of the technology company’s stock worth $740,000 after purchasing an additional 179 shares during the period. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Aspen Technology during the 4th quarter worth approximately $216,000. 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.