Aspen Technology (NASDAQ:AZPN) Downgraded by Loop Capital to Hold

Aspen Technology (NASDAQ:AZPN) was downgraded by stock analysts at Loop Capital from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, MarketBeat reports. They presently have a $265.00 price objective on the technology company’s stock, up from their previous price objective of $260.00. Loop Capital’s price target would indicate a potential downside of 0.21% from the company’s previous close.

Several other research firms have also commented on AZPN. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 price target (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. StockNews.com initiated coverage on shares of Aspen Technology in a report on Sunday, February 2nd. They issued a “hold” rating for the company. Finally, Piper Sandler lifted their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Aspen Technology currently has an average rating of “Hold” and an average price target of $262.00.

Aspen Technology Price Performance

Shares of AZPN stock opened at $265.55 on Wednesday. The firm has a market cap of $16.80 billion, a P/E ratio of -457.84, a P/E/G ratio of 3.00 and a beta of 0.76. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $265.67. The firm has a fifty day moving average of $253.07 and a two-hundred day moving average of $235.85.

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 the consensus estimate of $1.85 by $0.03. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. On average, sell-side analysts expect that Aspen Technology will post 6.68 EPS for the current year.

Institutional Trading of Aspen Technology

Hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Aspen Technology in the 4th quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Aspen Technology in the 3rd quarter valued at about $48,000. Jones Financial Companies Lllp lifted its position in Aspen Technology by 965.0% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after purchasing an additional 193 shares during the last quarter. Blue Trust Inc. lifted 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 purchasing an additional 228 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after purchasing an additional 58 shares during the last quarter. 45.66% of the stock is currently owned by 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.