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

Equities researchers at StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report released on Tuesday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Piper Sandler upped their price target on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird reiterated 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. Loop Capital raised shares of 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 report on Monday, February 10th. Finally, Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $272.00.

Aspen Technology Trading Down 0.0 %

Aspen Technology stock opened at $264.78 on Tuesday. The company has a fifty day simple moving average of $255.65 and a 200-day simple moving average of $240.54. The stock has a market cap of $16.76 billion, a P/E ratio of 3,310.16, a price-to-earnings-growth ratio of 3.03 and a beta of 0.76. Aspen Technology has a 12-month low of $171.25 and a 12-month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating 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, sell-side analysts forecast that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in Aspen Technology in the 4th quarter valued at about $26,000. Atala Financial Inc acquired a new position in shares of Aspen Technology in the fourth quarter valued at approximately $44,000. Bessemer Group Inc. raised its stake in shares of Aspen Technology by 29.7% during the fourth 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 lifted its holdings in shares of Aspen Technology by 965.0% during the fourth 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 period. Finally, Blue Trust Inc. grew its position in Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after buying an additional 228 shares during the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

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.